Loan calculation amount

Loan calculation amount - Calculation of loan installment amount

Loan 14000 over 1 Years, Interest Rate 4.7%, Calculate total principal and interest.
Loan Amount Dollar
Loan Terms
Loan Terms Months
Interest Rate %
First Payment Date
 

Equal principal and interest repayment method

Total loan amount  $ 14000
Repayment months  12 Months
Monthly repayment  $ 1196.58
Repayment characteristics  The monthly repayment amount is equal. 
Total interest amount  $ 358.97
Total principal and interest  $ 14358.97


Equal principal repayment method

Total loan amount  $ 14000
Repayment months  12 Months
First month repayment amount  $ 1221.50
Monthly decreasing  $ 4.57
Total interest amount  $ 356.42
Total principal and interest  $ 14356.42
Save interest  $ 2.55



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