Technically you can use car loan payment calculators on any of your loans. We will use the ordinary annuity formula to calculate each monthly payment. 0005 6 annual rateexpressed as 006divided by 12 monthly payments per year.
The present value here is 450000 which is the value of the loan.
The annual mortgage rate is 40 so the monthly rate is 40 divided by twelve. Simply enter the loan amount term and interest rate in the fields below and click calculate to calculate your monthly. Accelerate Amortization With Refinancing. In other words you tell the calculator what it needs to know and it does the math for you and tells you your monthly payment.