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A loan/mortgage calculator computes monthly payments, total interest, and an amortization schedule for any installment loan. The formula distributes equal payments that cover both interest and principal, with interest-heavy payments early and principal-heavy payments later.

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1. 1Monthly payment = P × r(1+r)^n / ((1+r)^n − 1)
2. 2Early payments are mostly interest; late payments are mostly principal
3. 3Amortization schedule shows the exact breakdown each month
4. 4Total interest = (Monthly payment × n) − Principal

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