How do I compare loans with different terms?

This calculator will calculate the monthly payment and interest costs for up to four loans—all on one screen—for comparison purposes.

To calculate the payment amount and the total interest of any fixed term loan, simply fill in the 3 left-hand cells of the first row and then click on "Compute." Use the other three rows to see what effects are produced by changing any one of the loan's original variables.

Principal Interest
Rate		 Number of
Payments*		 Compute Monthly
Payment		 Total
Interest		 Reset

*Note:
30 years = 360 payments
15 years = 180 payments

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