Norway Savings Bank - more than money

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Using this calculator, you can compute any of the following:

* Term of the Loan
* Principal Amount of the Loan
* Monthly Payment

Interest Rate	# of Payments	Principal	Monthly payment

 

INSTRUCTIONS

You must have data for three of the four fields. Enter the data you know for three of the fields in the first row and click Compute to calculate the fourth field. For example, if you know your interest rate, term (number of payments) and principal amount borrowed, you can calculate your monthly payment.

 

You can also compare information on up to three different loans by entering the data for each loan into a separate line.

 

Interest Rate:
If you were borrowing at an annual rate of 8.5%, you would enter the numbers 8.5

 

# of Payments:
To repay the loan within 1 year (12 months), you would enter 12 as the number of payments; to repay the loan within 5 years, you would enter 60 as the number of payments.

 

Principal Amount:
Enter the amount in whole dollars; for $20,000.00, you would enter 20000

 

Monthly Payment:
Enter the amount in whole dollars; for $300.00, you would enter 300

 

Please note: The information provided by this calculator is for illustrative purposes only. The information entered may vary from your actual loan results. Interest rates are hypothetical and are not meant to represent any specific loan. The calculated results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by Norway Savings Bank.