This calculator requires the use of Javascript enabled and capable browsers. It is to determine the amount of a loan payment, primarily for loan comparison. Answer the questions about loan amount (including all costs), term duration of the loan (in months) and the interest rate. All entries should be numeric only, no dollar signs ($) or commas, but as in the case of the loan amount or interest, may include decimals. For instance, if you were to get lucky enough for this rate, 5 percent would be entered as 5 not .05; 5.5 would be 5 and 1/2 percent. The answer is returned as a payment amount, based on your entries. A returned value of NaN is an indication of an error in entry. You should click on Calculate Payment to finalize the results and you may click on Clear Values to reset all fields to use the calculator again. This type of loan is typically known as an amortized loan, with the payment being both toward principal and interest.
