Loan & Credit Line Payments

This calculator helps determine your loan or line payment. For a loan payment, select fixed term loan. For a line payment, you can choose 2%, 1.5% , 1.0% of the outstanding balance or interest only.

This Financial Calculator requires SUN's JavaT Plug-in. If you see this message you will need to download SUN's JavaT Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing "Install ActiveX Control".

    You can also get SUN's JavaT Plug-in here: Get the JavaT Plug-in!

    For more information about this Plug-in please visit: SUN's JavaT Plug-in
    For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Loan amount
Total dollar amount of your loan.

Interest rate (APR)
The annual percentage rate for this loan or line of credit.

Term in months
Number of months for this loan or line of credit.

Fixed loan term
Traditional amortization produces a fixed monthly payment. The monthly payment calculated will leave a zero balance at the end of the loan's term.

2%, 1.5% or 1% of balance
Your minimum payment is calculated as a percentage of the outstanding principal balance. Your minimum payment will change each month, and if you only make the minimum payment your balance will not be zero at the end of your loan's term.

100% of interest owed
For lines paying interest owed, your payment is 100% of the interest accrued during the month but no principal. Your payment may not be fixed if your interest rate or principal balance changes.


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