Enter your loan amount, interest rate, and loan term into the calculator to determine your monthly airplane loan payment.
Airplane Loan Payment Formula
The following formula is used to calculate the monthly loan payment.
Monthly Payment = P * (r / (1 - (1 + r)^-n))
Variables:
- P is the loan amount ($)
- r is the monthly interest rate (%)
- n is the total number of payments (months)
To calculate the monthly payment, multiply the loan amount by the monthly interest rate and then divide by the difference between 1 and the result of raising 1 plus the monthly interest rate to the negative power of the total number of payments.