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

Formule

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

Guide étape par étape

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

Exemples résolus

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

Erreurs courantes à éviter

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

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Paramètres