Loan calculation amount

Loan calculation amount - Calculation of loan installment amount

Loan 7000 over 5 Years, Interest Rate 4%, 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  $ 7000
Repayment months  60 Months
Monthly repayment  $ 128.92
Repayment characteristics  The monthly repayment amount is equal. 
Total interest amount  $ 734.94
Total principal and interest  $ 7734.94


Equal principal repayment method

Total loan amount  $ 7000
Repayment months  60 Months
First month repayment amount  $ 140.00
Monthly decreasing  $ 0.39
Total interest amount  $ 711.67
Total principal and interest  $ 7711.67
Save interest  $ 23.27



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