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Loan Payment Calculator
Calculate payments for personal loans, business loans, student loans and more with flexible terms
Monthly Payment
$205.17
Loan Amount $10,000.00
Interest Rate 8.5% APR
Total of Payments $12,309.92
Total Interest $2,309.92
Payoff Date June 7, 2030
Payment Schedule (First 12 Payments)
| Payment # | Payment Amount | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $205.17 | $134.33 | $70.83 | $9,865.67 |
| 2 | $205.17 | $135.28 | $69.88 | $9,730.38 |
| 3 | $205.17 | $136.24 | $68.92 | $9,594.14 |
| 4 | $205.17 | $137.21 | $67.96 | $9,456.94 |
| 5 | $205.17 | $138.18 | $66.99 | $9,318.76 |
| 6 | $205.17 | $139.16 | $66.01 | $9,179.60 |
| 7 | $205.17 | $140.14 | $65.02 | $9,039.46 |
| 8 | $205.17 | $141.14 | $64.03 | $8,898.32 |
| 9 | $205.17 | $142.14 | $63.03 | $8,756.19 |
| 10 | $205.17 | $143.14 | $62.02 | $8,613.04 |
| 11 | $205.17 | $144.16 | $61.01 | $8,468.89 |
| 12 | $205.17 | $145.18 | $59.99 | $8,323.71 |
Payment Frequency Comparison
| Frequency | Payment Amount | Total Interest | Interest Saved |
|---|---|---|---|
| Monthly | $205.17 | $2,309.92 | $0.00 |
| Bi-weekly | $94.55 | $2,291.16 | $18.76 |
| Weekly | $47.24 | $2,283.12 | $26.80 |
Loan Types & Tips
Personal Loans
- • Unsecured loans for various purposes
- • Fixed interest rates and terms
- • No collateral required
- • Good for debt consolidation
Business Loans
- • For business equipment, expansion
- • May require business credit check
- • Often require collateral
- • Tax benefits may apply