What is the loan amount?
An advertisement shows you the monthly payment amount and how long you’ll pay that amount. And you can find the interest rate in the fine print at the bottom of the ad. But the actual price or loan amount is never mentioned. Sound familiar? Enter the monthly payment amount, the interest rate, and length of the loan into this calculator and it will show you the loan amount.
Title: A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Monthly Payment: The amount of principal + interest you are currently required to pay each month toward this loan.
Interest Rate: The annual percentage rate you will pay for this loan.
Length of Loan: How long you will pay on this loan. Also choose whether ‘Length of Loan’ is years or months.
Loan Amount: The amount you plan to borrow.