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Personal Loan Calculator

Inputs

Loan Amount(USD)

Total amount you want to borrow

Annual Interest Rate(%)

Yearly interest rate as a percentage

Loan Term(months)

Total duration of the loan in months

Monthly Payment

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Fixed amount due each month

Total Amount Paid

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Total Interest Paid

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Interest as % of Loan

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Formula

M = P * [r(1+r)^n] / [(1+r)^n - 1], where r = monthly rate, n = total months