Loan Payment Table Generator

Loan Payment Table Calculators
Rate and Loan Calculator
Months and Loan Calculator
Rate and Months Calculator

1. How the Rate and Loan Calculator Works

Purpose: This calculator generates monthly payments based on varying interest rates and loan amounts while keeping the loan term (in months) constant.

Formula:

The formula for calculating the monthly payment PP when you know the loan amount PVPV, the monthly interest rate rr, and the loan term nn is:

P=PV⋅r1−(1+r)−nP = \frac{PV \cdot r}{1 – (1 + r)^{-n}}

where:

  • PVPV is the loan amount (principal),
  • rr is the monthly interest rate (annual rate divided by 12),
  • nn is the total number of months.

Example:

If we have:

  • Loan Amount (PVPV) = $10,000,
  • Annual Interest Rate = 6% (monthly rate rr = 0.06/12),
  • Loan Term (nn) = 36 months,

The monthly payment PP would be:

P=10000×(0.06/12)1−(1+0.06/12)−36=304.22P = \frac{10000 \times (0.06/12)}{1 – (1 + 0.06/12)^{-36}} = 304.22

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So, each row in the table shows how the monthly payment changes with different loan amounts and interest rates.


2. How the Months and Loan Calculator Works

Purpose: This calculator generates monthly payments based on varying loan terms (in months) and loan amounts while keeping the interest rate constant.

Formula:

The formula remains the same:

P=PV⋅r1−(1+r)−nP = \frac{PV \cdot r}{1 – (1 + r)^{-n}}

Here, rr is constant, and the term nn changes across columns.

Example:

For:

  • Loan Amount (PVPV) = $5,000,
  • Annual Interest Rate = 5% (monthly rate rr = 0.05/12),
  • Loan Terms of 12, 24, and 36 months,

The monthly payments would be:

  • 12 months: P=5000×(0.05/12)1−(1+0.05/12)−12=428.04P = \frac{5000 \times (0.05/12)}{1 – (1 + 0.05/12)^{-12}} = 428.04
  • 24 months: P=5000×(0.05/12)1−(1+0.05/12)−24=219.36P = \frac{5000 \times (0.05/12)}{1 – (1 + 0.05/12)^{-24}} = 219.36
  • 36 months: P=5000×(0.05/12)1−(1+0.05/12)−36=150.57P = \frac{5000 \times (0.05/12)}{1 – (1 + 0.05/12)^{-36}} = 150.57

The table shows how the monthly payment changes with different loan terms.


3. How the Rate and Months Calculator Works

Purpose: This calculator generates monthly payments based on varying interest rates and loan terms while keeping the loan amount constant.

Formula:

P=PV⋅r1−(1+r)−nP = \frac{PV \cdot r}{1 – (1 + r)^{-n}}

Here, PVPV is constant, and the interest rate rr and term nn vary.

Example:

For:

  • Loan Amount (PVPV) = $15,000,
  • Interest Rates = 4%, 5%, and 6%,
  • Loan Term (nn) = 12, 24, and 36 months,

Sample calculations:

  • 4% interest, 24 months: P=15000×(0.04/12)1−(1+0.04/12)−24=650.13P = \frac{15000 \times (0.04/12)}{1 – (1 + 0.04/12)^{-24}} = 650.13
  • 5% interest, 36 months: P=15000×(0.05/12)1−(1+0.05/12)−36=449.03P = \frac{15000 \times (0.05/12)}{1 – (1 + 0.05/12)^{-36}} = 449.03
  • 6% interest, 12 months: P=15000×(0.06/12)1−(1+0.06/12)−12=1290.55P = \frac{15000 \times (0.06/12)}{1 – (1 + 0.06/12)^{-12}} = 1290.55

This table illustrates how the monthly payment changes based on various combinations of interest rates and loan terms.

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