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Step-by-step guide for the usage of a loan calculator.

Step 1: Input Loan Details

You will see a loan calculator with input fields. Enter the following details:

Loan Amount: The total amount of the loan.

Annual Interest Rate (%): The annual interest rate on the loan.

Loan Term (months): The duration of the loan in months.

Step 2: Calculate Monthly Payment

After entering the loan details, click on the “Calculate” button.

The calculated monthly payment will be displayed below the button.

Step 3: Clear Inputs (Optional)

If you want to enter new loan details, click on the “Clear” button to reset the input fields.


Let’s say you want to calculate the monthly payment for a $10,000 loan with an annual interest rate of 5% for a term of 24 months.

Enter 10000 in the “Loan Amount” field, 5 in the “Annual Interest Rate” field, and 24 in the “Loan Term” field.

Click “Calculate.” The result will show the monthly payment amount.


Ensure that all input fields are filled with valid numerical values.

The monthly payment is calculated using the formula for a fixed-rate loan. It does not take into account additional fees or compound interest, as it’s a simplified example.

Loan Calculator

Loan Calculator

Monthly Payment:

Amortization Schedule:

Period #Payment AmountPrincipal AmountInterest AmountBalance Owed
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