You can now calculate thousands of payments with ONE multiplication. The table below will help you easily calculate a fully amortized monthly payment. To use, simply find the appropriate factor for the interest rate and number of years of your loan.
As an example, the factor for a 30 year 9% loan is .0080462. Multiply the factor by the loan amount to calculate your monthly payment. Therefore, a 9% 30 year fully amortized loan payment can easily be figured as follows: The factor (.0080462) times loan amount (182,500) equals monthly payment, i.e. $1,468.43.
For a printable table please click here