Estimate fixed loan payments and inspect a month-by-month amortization schedule. Choose the annual-rate compounding convention that matches your loan terms.
Payment = P × i / (1 − (1+i)^−n). P is principal, i the monthly equivalent rate and n the number of monthly payments. At zero interest, payment = P/n.
Borrowing 10,000 at 6% nominal annual interest compounded monthly for 5 years gives a payment of about 193.33 and total interest of about 1,599.68.
This models a fully amortizing loan with equal monthly payments, a fixed rate and payments at period end. It is not a balloon, interest-only or variable-rate loan. APR can include fees and is not automatically the interest rate to enter. Displayed rows are rounded; lenders may adjust the final payment.
For a nominal annual rate compounded monthly, the monthly rate is annual rate / 12. For nominal semi-annual compounding, it is (1 + annual rate / 2)^(1/6) − 1. For an effective annual rate, it is (1 + annual rate)^(1/12) − 1. Enter rates as percentages in the form and select the convention in your agreement.
Check whether the quoted amount includes insurance, taxes, fees or a different payment frequency. Also check the annual-rate compounding convention and whether the rate is fixed. Lender rounding and payment dates can create smaller differences.
Not automatically. APR can include fees and follow a specific disclosure convention. Use the contractual interest rate and its compounding basis for a repayment schedule; assess fees separately.
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English edition: 16 September 2026.