118k Interest Only Loan Calculator

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Loan Payment Details
Monthly Payment
Loan Type
Interest Rate
What's the monthly payment on a 118,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
118,000 x Interest Rate (as a decimal) ÷ 12
An interest only loan just pays the interest so no principal is paid off. The loan typically has a specified term. When that term ends the loan must be repaid or refinanced.
View a table of monthly payments for a 118,000 interest only loan.
Rate Monthly Payment
0.50% $590
1.00% $1,180
1.50% $1,770
2.00% $2,360
2.50% $2,950
3.00% $3,540
3.50% $4,130
4.00% $4,720
4.50% $5,310
5.00% $5,900
Rate Monthly Payment
5.50% $6,490
6.00% $7,080
6.50% $7,670
7.00% $8,260
7.50% $8,850
8.00% $9,440
8.50% $10,030
9.00% $10,620
9.50% $11,210
10.00% $11,800
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