Calculate the monthly payment amount of a loan for a given term and interest rate.

Your Monthly Payment:

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**What is this Loan Calculator?**

This loan calculator will help you determine the monthly payments on a loan. Simply enter the loan amount, term and interest rate in the fields below and click calculate. This calculator can be used for mortgage, auto, or any other fixed loan types.

**Interest Only Loan**

The loan payment calculation for an interest only loan is easier. Multiply the amount you borrow by the annual interest rate. Then divide by the number of payments per year.

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