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This calculator is designed to calculate a loan payment and the net cost of the loan after an investment tax deduction is taken into account.
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Definitions
- Amount borrowed
- The loan amount you wish to borrow.
- Interest Rate
- The interest rate on this loan.
- Payment Option
- The monthly loan payment option you wish to select. You can choose either: a) Blended Principal & Interest Payments; or b) Interest Only Payments with Principal Paid at Maturity
- Income tax bracket
- This is the marginal tax rate you pay on your earned income
- Net after tax interest rate
- This is the net loan interest rate after your potential tax deduction of your cost of borrowing expenses. Generally, you can deduct the cost of borrowing if your loan is considered an eligible investment loan – please consult your tax professional regarding loan eligibility.
- Net after tax payment
- This is the net monthly loan payment after your potential tax deduction of your cost of borrowing expenses. Generally, you can deduct the cost of borrowing if your loan is considered an eligible investment loan – please consult your tax professional regarding loan eligibility.
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