Loan & Credit Line Payments

Calculate monthly payments for both standard amortizing loans and interest-only credit lines.

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Loan Details

$
%
10 years

Payment Summary

Monthly Payment$594
Interest-Only (for comparison)$313
Total Payment$71,221
Total Interest$21,221
How it works›

Model and assumptions. Calculates interest on the remaining principal and applies the modeled payment to interest and then principal. Level payments use P × r / (1 − (1+r)^−n), with P/n at zero interest. Payment timing, fees and changing rates are included only where entered; a balloon or unpaid balance remains a liability.OpenStax: annuity formulas