Loan calculation amount

Loan calculation amount - Calculation of loan installment amount

Loan 15000 over 5 Years, Interest Rate 2.6%, 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  $ 15000
Repayment months  60 Months
Monthly repayment  $ 266.87
Repayment characteristics  The monthly repayment amount is equal. 
Total interest amount  $ 1012.34
Total principal and interest  $ 16012.34


Equal principal repayment method

Total loan amount  $ 15000
Repayment months  60 Months
First month repayment amount  $ 282.50
Monthly decreasing  $ 0.54
Total interest amount  $ 991.25
Total principal and interest  $ 15991.25
Save interest  $ 21.09



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