How to use this tool
Check the units, enter your values, and run the tool. Results follow the assumptions and method below.
Calculation method
Monthly payment
rate == 0 ? (principal-balloon)/months : (principal-balloon/(1+rate/1200)^months)*(rate/1200)/(1-(1+rate/1200)^(-months))Scheduled payments plus balloon
((rate == 0) ? (principal-balloon)/months : (principal-balloon/(1+rate/1200)^months)*(rate/1200)/(1-(1+rate/1200)^(-months)))*months+balloon