Loan calculation amount

Loan calculation amount - Calculation of loan installment amount

Loan 3000 over 5 Years, Interest Rate 3.70%, 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  $ 3000
Repayment months  60 Months
Monthly repayment  $ 54.84
Repayment characteristics  The monthly repayment amount is equal. 
Total interest amount  $ 290.66
Total principal and interest  $ 3290.66


Equal principal repayment method

Total loan amount  $ 3000
Repayment months  60 Months
First month repayment amount  $ 59.25
Monthly decreasing  $ 0.15
Total interest amount  $ 282.12
Total principal and interest  $ 3282.12
Save interest  $ 8.54



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