$7 million loan for 8 months - calculate:
Calculate payments: $7 million loan, 8 months term.
| Loan Amount: | Payment Every Month: | Total Payments: | Total Interest: |
||
| $7000000, 2.7%, 8 months | $890750 | $7126000 | $126000 | ||
| $7000000, 2.9%, 8 months | $891917 | $7135333 | $135333 | ||
| $7000000, 3.4%, 8 months | $894833 | $7158667 | $158667 | ||
| $7000000, 3.8%, 8 months | $897167 | $7177333 | $177333 | ||
| $7000000, 7%, 8 months | $915833 | $7326667 | $326667 | ||
$7 million loan for 5 months, 9 months, or 12 months:
| Loan Amount: | Payment Every Month: | Total Payments: | Total Interest: |
| $7 million, 2.9%, 5 months | $1416917 | $7084583 | $84583 |
| $7 million, 3.4%, 9 months | $797611 | $7178500 | $178500 |
| $7 million, 3.4%, 12 months | $603167 | $7238000 | $238000 |
Calculations applicable for many banks: Bank of America, U.S. Bancorp, Citigroup, Capital One, etc.