`"interest delta" = |"Period[Loan(" P , i_1 , n ")]" - "Period[Loan(" P , i_2 , n ")]"|`

Enter a value for all fields

This Interest Savings equation will do an amortization of a loan and will compare two different interest rates.  The equation will output the total interest cost difference between the two provided rates.  

INPUTS

• P - principal amount
• `i_1` - interest rate to be tested
• `i_2` - interest rate to be tested
• n - loan terms

NOTES

This equation is used to answer questions of the form:
What is the difference, in total interest paid over the life of the loan,  choosing between two different rates.

This equation will amortize the loan amounts with both of the given interest rates and output the difference in total interest charges for the two separate loans.  The answer will be the absolute value of the difference, showing only the delta between the two values.