Loan Calculator
Use our loan calculator to tabulate your loan repayment and interest amounts in a breeze.
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Summary
- Loan Amount
- $3,000.00
- Rate (APR)
- 3.5%
- Number of Payments
- 8
- Total Flat Rate Interest
- $70.00
- Total Reduced Balance Interest
- $39.51
Reduced balance calculation
| # | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 379.94 | 8.75 | 371.19 | 2,628.81 |
| 2 | 379.94 | 7.67 | 372.27 | 2,256.54 |
| 3 | 379.94 | 6.58 | 373.36 | 1,883.18 |
| 4 | 379.94 | 5.49 | 374.45 | 1,508.74 |
| 5 | 379.94 | 4.40 | 375.54 | 1,133.20 |
| 6 | 379.94 | 3.31 | 376.63 | 756.57 |
| 7 | 379.94 | 2.21 | 377.73 | 378.83 |
| 8 | 379.94 | 1.10 | 378.83 | 0.00 |
Flat rate calculation
| # | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 383.75 | 8.75 | 375.00 | 2,625.00 |
| 2 | 383.75 | 8.75 | 375.00 | 2,250.00 |
| 3 | 383.75 | 8.75 | 375.00 | 1,875.00 |
| 4 | 383.75 | 8.75 | 375.00 | 1,500.00 |
| 5 | 383.75 | 8.75 | 375.00 | 1,125.00 |
| 6 | 383.75 | 8.75 | 375.00 | 750.00 |
| 7 | 383.75 | 8.75 | 375.00 | 375.00 |
| 8 | 383.75 | 8.75 | 375.00 | 0.00 |
Calculations are estimates only and may differ from your lender's final repayment schedule.