Calculate a Loan Payment for a $1600 Loan
Loan Amount:        $
Interest Rate:        %
Length in Years:
Monthly Payment:  


  • Enter your loan amount, loan length, and length in years.
  • Common Loan lengths for cars are 3 years (36 months), 4 years (48 months), and 5 years (60 months).
  • Common Loan lengths for homes are 15 years, 20 years, 25 years, or 30 years.
  • Notice how the payment changes when the interest rate is 3,4,5,6 or 7 percent.


  • $1600 loan for 30 years. Compare monthly payment by interest rate.
Interest Rate Monthly Payment
3.00% $6.75
3.25% $6.96
3.50% $7.18
3.75% $7.41
4.00% $7.64
4.25% $7.87
4.50% $8.11
4.75% $8.35
5.00% $8.59
5.25% $8.84
5.50% $9.08
5.75% $9.34
6.00% $9.59
6.25% $9.85
6.50% $10.11
6.75% $10.38
7.00% $10.64
7.25% $10.91
7.50% $11.19
7.75% $11.46
8.00% $11.74
8.25% $12.02
8.50% $12.30
8.75% $12.59