Business loan calculator
Amount, rate, length and fees: see the payment, the total cost and a rate that includes the fees.
Result
966.64Each month
- Number of months
- 60
- Interest cost
- 7,998.40
- Fees
- 750.00
- Total cost (interest + fees)
- 8,748.40
- Total paid
- 58,748.40
- Rate with fees (per year)
- 6.63%
Year by year
Detailed table
| Year | Principal repaid | Interest paid | Left to pay |
|---|---|---|---|
| 1 | 8,840.16 | 2,759.52 | 41,159.84 |
| 2 | 18,225.56 | 4,973.80 | 31,774.44 |
| 3 | 28,189.83 | 6,609.21 | 21,810.17 |
| 4 | 38,768.67 | 7,630.05 | 11,231.33 |
| 5 | 50,000.00 | 7,998.40 | 0.00 |
How it is calculated
- Payment = P × i ÷ (1 − (1 + i)^−n), where i = rate ÷ 12.
- Total cost = interest + fees.
- Rate with fees: the rate at which the payments exactly repay the money received (amount − fees).
Example
50,000 at 6% over 5 years: about 966.64 a month.
Good to know
- Indicative terms: this is not a financing offer.
- Personal guarantees, collateral and insurance are not counted.
- The rate with fees is an estimate, not the legal rate the lender must show.
Frequently asked questions
What is this tool used for?
Amount, rate, length and fees: see the payment, the total cost and a rate that includes the fees.
How is the result calculated?
Payment = P × i ÷ (1 − (1 + i)^−n), where i = rate ÷ 12.
What should I check before using the result?
Indicative terms: this is not a financing offer.