**Introduction**

Calculating one-time extra payments can be a crucial aspect of financial planning, whether you’re dealing with loans, mortgages, or investments. To streamline this process, a dedicated calculator can prove invaluable. In this article, we’ll guide you through creating a simple yet powerful One Time Extra Payment Calculator using HTML and JavaScript.

**How to Use**

This calculator is designed to help you determine the impact of a one-time extra payment on your financial obligations. Enter the required details, click the “Calculate” button, and get instant insights into potential savings.

**Formula**

The formula for calculating the new payment schedule after a one-time extra payment is as follows:

$New Payment=−(+rn)−ntP×(rn) +Extra Payment$

Where:

- $P$ is the principal amount.
- $r$ is the annual interest rate (in decimal form).
- $n$ is the number of times that interest is compounded per unit $t$ (usually years).
- $t$ is the time the money is invested or borrowed for.
- $Extra Payment$ is the one-time additional amount.

**Example**

Suppose you have a loan of $100,000 with an annual interest rate of 5%, compounded monthly for 30 years. If you make a one-time extra payment of $5,000, this calculator will provide the revised payment schedule.

**FAQs**

**Q: How accurate is this calculator?**

A: The calculator employs the standard formula for loan repayment calculations, ensuring accuracy in its results.

**Q: Can I use this for mortgages or investments?**

A: Yes, the calculator is versatile and can be used for various financial scenarios involving one-time extra payments.

**Q: Is the extra payment deducted immediately from the principal?**

A: Yes, the extra payment is factored into the revised payment schedule from the outset.

**Conclusion**

The One Time Extra Payment Calculator simplifies complex financial calculations, providing a quick and accurate way to assess the impact of additional payments. Whether you’re managing loans or planning investments, this tool can be a valuable asset in optimizing your financial strategy.