Repayment structure
See what the monthly number is really telling you.
6.99% APR assumption
The SecureLend calculator uses a 6.99% annual percentage rate assumption and converts it to a monthly rate to estimate an amortizing monthly installment.
Available terms
The calculator provides 12, 24, 36, 48 and 60 month terms. Selecting a longer term generally changes the monthly installment and increases the number of payments in the illustrative schedule.
The formula
For principal P, monthly rate r = 0.0699 ÷ 12, and n monthly payments, the estimated installment is P × r × (1+r)n ÷ ((1+r)n − 1).
Why an actual payment may differ
The calculator is a planning tool, not a binding quote. Actual offers can contain different rates, fees, schedules, eligibility criteria or other conditions. Review the complete documents attached to any real offer before accepting it.
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