Compare monthly payment, total interest, and total cost for two fixed-rate loans.
Planning estimate only, not financial, tax, or legal advice. Verify assumptions and current rules before making decisions.
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Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is principal, r is the monthly rate, and n is the number of payments. Fees are added to total cost.
Compare two $30,000 loans by entering each term, APR, and upfront fees. The lower rate is not always the lower-cost option when terms and fees differ.
A longer term can reduce the monthly payment while creating more interest payments.
Enter known lender fees in the fee fields. Financing a fee instead of paying it upfront can change the result.
No. Cash flow, prepayment rules, collateral, risk, and loan features can also matter.
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