To calculate the payment amount of any fixed loan.

1. Fill in the a. # of Payments, b. Interest Rate, and c. Principal.

a. To figure the # of payments, multiply the number of years of the loan by 12, i.e. 30 years x 12 = 360 payments, or 5 years x 12 = 60 payments.

b. NOTE: Enter the Interest Rate as a decimal, i.e. 7.375% enter as: .07375

c. Principal is the amount that you are borrowing after any down payments.

2. Click on Compute or press TAB