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Calculates monthly interest payments, total interest, and amortization schedules for loans and savings.

Fórmula

Monthly Interest = Principal * (Annual Rate / 12 / 100)

Guía paso a paso

  1. 1Enter the principal amount and annual interest rate
  2. 2Input the loan term in months
  3. 3Calculate monthly payment and total interest paid

Ejemplos resueltos

Entrada
$200,000 at 4% APR for 360 months
Resultado
$954.83 monthly payment, $143,739 total interest
30-year mortgage example

Errores comunes a evitar

  • Using annual rate without dividing by 12
  • Confusing simple and compound interest

Configuración

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