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When you pay off part of the principal, the funds return to your line amount. As soon as the draw period ends, the repayment period commences. At this point, you start paying back the amount of the remaining principal you owe, plus interest.
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Click either "Calc" or "Payment Schedule." Online calculator to calculate payment amount for a loan. Loan Payment Amount Formula. P = ( r * A ) / ( 1 - (1+r)-N) Where, P = Payment Amount A = Loan Amount r = Rate of Interest (compounded) N = Number of Payments Rate of Interest Compounded is, If Monthly, r = i / 1200 and N = n * 12 If Quarterly, r = i / 400 and N = n * 4 If Half yearly, r = i / 200 and N = n * 2 If Yearly, r = i Free loan calculator to determine repayment plan, interest cost, and amortization schedule of conventional amortized loans, deferred payment loans, and bonds. Also, learn more about different types of loans, experiment with other loan calculators, or explore other calculators addressing finance, math, fitness, health, and many more. Total amount paid with interest is calculated by multiplying the monthly payment by total months.