NumberCrunch.io

To calculate monthly loan payments:

1. Convert annual interest rate to monthly (divide by 12 and 100)
2. Convert loan term to months
3. Use the formula:

$P=L\left[c\right(1+c\left)n\right]/\left[\right(1+c)n-1]$

P = Monthly Payment
L = Loan Amount
c = Monthly Interest Rate
n = Total Number of Months