Loan Payment Calculator

Description

Want to know how much you'll have saved in your retirement account over time? Or perhaps you want to know what the payments will be on a loan? Or how much the total cost of a loan might be? The loan calculator will calculate the interest rate, monthly payments, and the total cost of a loan based upon the input you provide.

When to Use

Use the Loan Calculator when you wish to:

Calculate payment amounts for a loan
Wish to calculate a loan schedule for a car
Lend money to a friend

What information you will need

To effectively use this financial tool it is best to have the following on hand:

information about the loan; interest rate, term and compounding period
amount of the proposed loan
amount of money available for a down payment

Note: You do not need to have all this information to use the tool, but the more you have available, the more accurate the calculation.

Date:
Name:
Loan for:

Interest Rate%:	(Enter 7¾% as 7.75)
Compounding Period:
Term in years
Loan Amount:
1st Payment Date: