To calculate the payment amount and the total interest of any fixed term loan, follow these steps:

1. Fill in the # of Payments, Interest Rate, and Principal.
2. Click the Compute button.
3. The Monthly Payment and Total Interest paid will be calculated for you.

You can use the next three rows to see what effects are produced by changing any one of the loan's original variables.

# of Payments Interest Rate Principal Monthly payment Total Interest

# of Payments Interest Rate Principal Monthly payment Total Interest

# of Payments Interest Rate Principal Monthly payment Total Interest