Our Methodology
Where an article on Dalton Financial News includes payment or interest figures, we calculate them ourselves using standard finance formulas. This page explains how.
Loan and mortgage payments
Monthly payments are calculated with the standard amortization formula, where the payment M for a principal P at monthly rate i over n months is: M = P × i × (1 + i)n ÷ ((1 + i)n − 1). Total interest is the sum of all payments minus the original principal. The monthly rate i is the annual percentage rate (APR) divided by 12.
Credit card payoff
Credit card scenarios assume a fixed monthly payment applied to a starting balance. Each month we add interest (balance × APR ÷ 12), subtract the payment, and repeat until the balance reaches zero, counting the months and totalling the interest. Where a fixed payment is smaller than the monthly interest, the balance never falls — we note this explicitly.
Refinancing and consolidation
Refinance break-even is closing costs divided by the monthly payment saved at the new rate. Consolidation examples compare total interest on the original balance at a higher APR against the same balance at a lower APR over the stated term.
Assumptions and limits
All figures are illustrative examples, rounded for readability, and assume fixed rates and on-time payments. They do not include lender-specific fees, taxes, insurance, or promotional rates. Actual terms depend on the lender and your creditworthiness. Figures are for general education, not personalized financial advice.
Corrections
If you spot an error in a calculation, please tell us — see our corrections policy.