Moto Loan Calculator

Display currencyFormatting only. This does not change the calculation.

Loan amount

Annual interest rate (%)The nominal annual rate (APR before fees), not the monthly rate.

Loan term (years)

Term - additional monthsAdded to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.

Payment frequency

Extra payment each period Additional principal paid on top of the scheduled payment.

Include the amortisation schedule

Payment

284.58

Loan Payment Calculator

Total interest

1,659.81

Total of payments

13,659.81

Number of payments

Payoff time

4 years

Rate per period

0.541667 %

Interest per unit borrowed

0.1383

Interest saved by extra payments

Payments saved

Loan amount

12,000.00

Annual interest rate

6.5 %

Months to repay

Fees deducted at closing

0.00

Net amount advanced

12,000.00

APR

6.5 %

Worked out from Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 4 other sources.

How this is worked out

3 steps

Rate per period = 6.5% / 12 = 0.541667%
Payment = P i / (1 - (1+i)^-n) = 284.58
Over 48 payments the total paid is 13659.81, of which 1659.81 is interest.

Amortisation scheduletable

period	payment	interest	principal	balance
1	284.58	65	219.58	11,780.42
2	284.58	63.81	220.77	11,559.65
3	284.58	62.61	221.97	11,337.68
4	284.58	61.41	223.17	11,114.51
5	284.58	60.2	224.38	10,890.13
6	284.58	58.99	225.59	10,664.54
7	284.58	57.77	226.81	10,437.73
8	284.58	56.54	228.04	10,209.69
9	284.58	55.3	229.28	9,980.41
10	284.58	54.06	230.52	9,749.89
11	284.58	52.81	231.77	9,518.12
12	284.58	51.56	233.02	9,285.1
13	284.58	50.29	234.29	9,050.81
14	284.58	49.03	235.55	8,815.26
15	284.58	47.75	236.83	8,578.43
16	284.58	46.47	238.11	8,340.32
17	284.58	45.18	239.4	8,100.92
18	284.58	43.88	240.7	7,860.22
19	284.58	42.58	242	7,618.22
20	284.58	41.27	243.31	7,374.91
21	284.58	39.95	244.63	7,130.28
22	284.58	38.62	245.96	6,884.32
23	284.58	37.29	247.29	6,637.03
24	284.58	35.95	248.63	6,388.4
25	284.58	34.6	249.98	6,138.42
26	284.58	33.25	251.33	5,887.09
27	284.58	31.89	252.69	5,634.4
28	284.58	30.52	254.06	5,380.34
29	284.58	29.14	255.44	5,124.9
30	284.58	27.76	256.82	4,868.08
31	284.58	26.37	258.21	4,609.87
32	284.58	24.97	259.61	4,350.26
33	284.58	23.56	261.02	4,089.24
34	284.58	22.15	262.43	3,826.81
35	284.58	20.73	263.85	3,562.96
36	284.58	19.3	265.28	3,297.68
37	284.58	17.86	266.72	3,030.96
38	284.58	16.42	268.16	2,762.8
39	284.58	14.97	269.61	2,493.19
40	284.58	13.5	271.08	2,222.11
41	284.58	12.04	272.54	1,949.57
42	284.58	10.56	274.02	1,675.55
43	284.58	9.08	275.5	1,400.05
44	284.58	7.58	277	1,123.05
45	284.58	6.08	278.5	844.55
46	284.58	4.57	280.01	564.54
47	284.58	3.06	281.52	283.02
48	284.55	1.53	283.02	0

Yearly summarytable

year	interest	principal	endingBalance
1	700.06	2,714.9	9,285.1
2	518.26	2,896.7	6,388.4
3	324.24	3,090.72	3,297.68
4	117.25	3,297.68	0

Results are general information, not financial, tax, legal, medical or engineering advice.