Formula and Explanation
Payment = P x r(1+r)^n / ((1+r)^n - 1)
This calculator applies the formula Payment = P x r(1+r)^n / ((1+r)^n - 1). Enter each value with the matching unit, and AZCalculate updates the result instantly.
Variable descriptions
- principal($)
- Purchase or loan amount: Purchase or loan amount measured in $, entered as a known value.
- downPayment($)
- Down payment or trade-in: Down payment or trade-in measured in $, entered as a known value.
- rate(%)
- Annual rate: Annual rate measured in %, entered as a known value.
- years(years)
- Loan term: Loan term measured in years, entered as a known value.
- fees($)
- Fees financed: Fees financed measured in $, entered as a known value.