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Existing Loan Calculator (Canadian) Definitions

Loan amount

Your original balance when you received this loan.

Monthly payment

Your monthly payment for this loan.

Term in months

Total number of months for this loan.

Interest rate

The interest rate you pay on this loan. This value is calculated based on your monthly payment, loan balance and term.

Months left

Total number of months left to pay on this loan.

Current balance

Your current outstanding balance for this loan. This value is calculated based on the number of months you have remaining to pay.

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