Pool Loan Calculator

Enter your loan amount, annual interest rate, and loan term into the calculator to determine your monthly payment.

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Pool Loan Repayment Formula

The following formula is used to calculate the monthly payment for a pool loan.

Monthly Payment = Loan Amount * (Monthly Interest Rate / (1 - (1 + Monthly Interest Rate)^(-Number of Payments)))

Variables:

• Loan Amount is the total amount of the loan ($)
• Monthly Interest Rate is the annual interest rate divided by 12 (%)
• Number of Payments is the loan term in years multiplied by 12

To calculate the monthly payment, multiply the loan amount by the monthly interest rate and divide by 1 minus (1 + monthly interest rate) raised to the power of negative number