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Calculates monthly loan payment from purchase price, interest rate, and loan term. Helps evaluate affordability and financing options.

Wzór

Loan amount = purchase price - down payment

Przewodnik krok po kroku

  1. 1Loan amount = purchase price - down payment
  2. 2Monthly rate = annual rate ÷ 12
  3. 3Formula: payment = P × (r × (1+r)^n) ÷ ((1+r)^n - 1)
  4. 4Add taxes, insurance, registration

Rozwiązane przykłady

Wejście
$25k, 60mo, 5%
Wynik
$472/mo

Częste błędy do unikania

  • Only looking at monthly payment, ignoring total interest paid
  • Not including insurance and maintenance in affordability analysis

Często zadawane pytania

What down payment percentage is standard?

Typically 10-20%; 20% avoids PMI; more down payment reduces monthly cost.

How does interest rate affect payment?

Each 1% rate increase adds $15-20/month per $10k borrowed; rate critical to total cost.

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Ustawienia

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