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what if I.... want to repay by a specific date

The "what if I.... want to repay by a specific date" tool is pre-mature in it's final pay off estimate.  See attached.

I'm using Quicken for Mac 2018, version 5.5.3 I believe.

Why is it doing this?  Thanks!
image

Comments

  • Quicken Harold
    Quicken Harold Alumni ✭✭✭✭
    edited April 2018
    Hi R. Watson, appreciate your question.

    The dash line is showing when the principal will be paid off if you changed the date.

    The straight green line is showing the natural end of the loan.

    The dash line is showing that if you repaid early, your interest will be less.

    Hope this helps.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • Unknown
    Unknown Member
    edited February 2018
    I guess I'm not understanding fully.  To me it looks like if I pay the extra it says it will take to have it paid off by my target date, the last note is like a balloon note.

    What I'm trying to do, is find out how much additional principle I need to pay each month to have the entire loan paid in 15 years total in lieu of 30 years.
  • Quicken Harold
    Quicken Harold Alumni ✭✭✭✭
    edited April 2018
    Hi R. Watson, appreciate your question.

    I would contact Quicken Support at 650-250-1900 and allow one of our Mac representatives to work with you..

    Hope this helps.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • Unknown
    Unknown Member
    edited February 2018
    I'll do that, thank you sir.
This discussion has been closed.