Loan monthly payment calculator : home loan, consumer loan, and other types of loan.
This calculator of fixed rate monthly loan online will help determine the monthly payment of a loan,
it can apply to different types of loan: home loan, consumer loan.
With this calculator, it is possible knowing the rate and duration of determining the amount to be repaid each month for
repay a given capital.
Fixed rate monthly payment calculator
To calculate the monthly payment of a loan, the calculator uses the following formula :
r is the monthly rate.
The loan payment calculator uses a simple syntax, so to calculate the monthly repayment
of a mortgage loan in the amount of € 100,000 at a fixed rate of 2% over 20 years (240 months),
just enter monthly_loan(`100000;0.02;240`).
The calculator returns the amount of the monthly payment and the cost of the credit.
All parameters of the monthly loan repayment amount calculator are calculable,
it means that it is possible to pass formulas as a parameter,
which can for example be useful for converting years to months.
Thus to calculate the amount of a consumer loan of an amount of $20000 at the rate of 3% over 5 years,
Calculation of the total cost of a credit
The total cost of a credit is calculated as the difference between the total amount reimbursed and the amount borrowed.
The loan calculator details in detail the calculations, the total cost of a credit.
Here is the list of exercises that use this function for their solution : .
- monthly_loan(Borrowed capital;Annual interest rate;repayment duration), the repayment term is expressed in months.
Calculate online with monthly_loan (Calculation of the monthly payments of a loan)