Loan Calculator

Loan Calculator – Usage Instructions:

1. Loan Amount ($):

   • Enter the total amount of the loan you are considering. This is the initial sum you are borrowing.

2. Annual Interest Rate (%):

   • Enter the annual interest rate for the loan. This should be provided by your lender as a percentage.

3. Loan Term (years):

   • Specify the number of years you plan to repay the loan. This is the duration of the loan in years.

4. Calculate:

   • Click the “Calculate” button to perform the loan calculation based on the provided information.

5. Results:

   • After clicking “Calculate,” the calculator will display the following results:
     • Monthly Payment: The amount you need to pay each month.
     • Total Payment: The overall amount you will pay throughout the entire loan term.
     • Total Interest: The total interest amount paid over the life of the loan.

Important Note:

• This calculator provides estimates and should be used for informational purposes only. Actual loan terms and conditions may vary. Consult with a financial advisor for precise and personalized information.