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What's the monthly payment on a 34,000 interest only loan?

Take the annual interest rate, divide by 12, and then multiply by the loan amount.

34,000 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.

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View a table of monthly payments for a 34,000 interest only loan.

Rate |
Monthly Payment |

0.50% |
$170 |

1.00% |
$340 |

1.50% |
$510 |

2.00% |
$680 |

2.50% |
$850 |

3.00% |
$1,020 |

3.50% |
$1,190 |

4.00% |
$1,360 |

4.50% |
$1,530 |

5.00% |
$1,700 |

Rate |
Monthly Payment |

5.50% |
$1,870 |

6.00% |
$2,040 |

6.50% |
$2,210 |

7.00% |
$2,380 |

7.50% |
$2,550 |

8.00% |
$2,720 |

8.50% |
$2,890 |

9.00% |
$3,060 |

9.50% |
$3,230 |

10.00% |
$3,400 |

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More Loan Amounts

$35,000 |

$36,000 |

$37,000 |

$38,000 |

$39,000 |

$40,000 |

$41,000 |

$42,000 |

$43,000 |

$44,000 |

$45,000 |

$46,000 |

$47,000 |

$48,000 |

$49,000 |

$50,000 |

$51,000 |

$52,000 |

$53,000 |

$54,000 |

$55,000 |

$56,000 |

$57,000 |

$58,000 |

$59,000 |

$60,000 |

$61,000 |

$62,000 |

$63,000 |

$64,000 |