Simple Loan Calculator

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Loan amount $ 20,000.00
Annual interest rate 5.50%
Loan period in years 3
Start date of loan 3/15/2024

Monthly payment $ 603.92

Number of payments 36
Total interest $ 1,741.05
Total cost of loan $ 21,741.05

Payment Beginning Ending

No. Date Balance Payment Principal Interest Balance
1 4/15/2024 $ 20,000.00 $ 603.92 $ 512.25 $ 91.67 $ 19,487.75
2 5/15/2024 $ 19,487.75 $ 603.92 $ 514.60 $ 89.32 $ 18,973.15
3 6/15/2024 $ 18,973.15 $ 603.92 $ 516.96 $ 86.96 $ 18,456.19
4 7/15/2024 $ 18,456.19 $ 603.92 $ 519.33 $ 84.59 $ 17,936.86
5 8/15/2024 $ 17,936.86 $ 603.92 $ 521.71 $ 82.21 $ 17,415.16
6 9/15/2024 $ 17,415.16 $ 603.92 $ 524.10 $ 79.82 $ 16,891.06
7 10/15/2024 $ 16,891.06 $ 603.92 $ 526.50 $ 77.42 $ 16,364.56
8 11/15/2024 $ 16,364.56 $ 603.92 $ 528.91 $ 75.00 $ 15,835.64
9 12/15/2024 $ 15,835.64 $ 603.92 $ 531.34 $ 72.58 $ 15,304.31
10 1/15/2025 $ 15,304.31 $ 603.92 $ 533.77 $ 70.14 $ 14,770.53
11 2/15/2025 $ 14,770.53 $ 603.92 $ 536.22 $ 67.70 $ 14,234.31
12 3/15/2025 $ 14,234.31 $ 603.92 $ 538.68 $ 65.24 $ 13,695.64
13 4/15/2025 $ 13,695.64 $ 603.92 $ 541.15 $ 62.77 $ 13,154.49
14 5/15/2025 $ 13,154.49 $ 603.92 $ 543.63 $ 60.29 $ 12,610.86
15 6/15/2025 $ 12,610.86 $ 603.92 $ 546.12 $ 57.80 $ 12,064.74
16 7/15/2025 $ 12,064.74 $ 603.92 $ 548.62 $ 55.30 $ 11,516.12
17 8/15/2025 $ 11,516.12 $ 603.92 $ 551.14 $ 52.78 $ 10,964.99
18 9/15/2025 $ 10,964.99 $ 603.92 $ 553.66 $ 50.26 $ 10,411.33
19 10/15/2025 $ 10,411.33 $ 603.92 $ 556.20 $ 47.72 $ 9,855.13
20 11/15/2025 $ 9,855.13 $ 603.92 $ 558.75 $ 45.17 $ 9,296.38
21 12/15/2025 $ 9,296.38 $ 603.92 $ 561.31 $ 42.61 $ 8,735.07
22 1/15/2026 $ 8,735.07 $ 603.92 $ 563.88 $ 40.04 $ 8,171.19
23 2/15/2026 $ 8,171.19 $ 603.92 $ 566.47 $ 37.45 $ 7,604.72
24 3/15/2026 $ 7,604.72 $ 603.92 $ 569.06 $ 34.85 $ 7,035.66
25 4/15/2026 $ 7,035.66 $ 603.92 $ 571.67 $ 32.25 $ 6,463.98
 Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance
26 5/15/2026 $ 6,463.98 $ 603.92 $ 574.29 $ 29.63 $ 5,889.69
27 6/15/2026 $ 5,889.69 $ 603.92 $ 576.92 $ 26.99 $ 5,312.77
28 7/15/2026 $ 5,312.77 $ 603.92 $ 579.57 $ 24.35 $ 4,733.20
29 8/15/2026 $ 4,733.20 $ 603.92 $ 582.22 $ 21.69 $ 4,150.98
30 9/15/2026 $ 4,150.98 $ 603.92 $ 584.89 $ 19.03 $ 3,566.08
31 10/15/2026 $ 3,566.08 $ 603.92 $ 587.57 $ 16.34 $ 2,978.51
32 11/15/2026 $ 2,978.51 $ 603.92 $ 590.27 $ 13.65 $ 2,388.24
33 12/15/2026 $ 2,388.24 $ 603.92 $ 592.97 $ 10.95 $ 1,795.27
34 1/15/2027 $ 1,795.27 $ 603.92 $ 595.69 $ 8.23 $ 1,199.58
35 2/15/2027 $ 1,199.58 $ 603.92 $ 598.42 $ 5.50 $ 601.16
36 3/15/2027 $ 601.16 $ 603.92 $ 601.16 $ 2.76 $ (0.00)

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