What's the monthly payment on a 55,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 55,000 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 55,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$275 |
| 1.00% |
$550 |
| 1.50% |
$825 |
| 2.00% |
$1,100 |
| 2.50% |
$1,375 |
| 3.00% |
$1,650 |
| 3.50% |
$1,925 |
| 4.00% |
$2,200 |
| 4.50% |
$2,475 |
| 5.00% |
$2,750 |
| Rate |
Monthly Payment |
| 5.50% |
$3,025 |
| 6.00% |
$3,300 |
| 6.50% |
$3,575 |
| 7.00% |
$3,850 |
| 7.50% |
$4,125 |
| 8.00% |
$4,400 |
| 8.50% |
$4,675 |
| 9.00% |
$4,950 |
| 9.50% |
$5,225 |
| 10.00% |
$5,500 |
More Loan Amounts
| $56,000 |
| $57,000 |
| $58,000 |
| $59,000 |
| $60,000 |
| $61,000 |
| $62,000 |
| $63,000 |
| $64,000 |
| $65,000 |
| $66,000 |
| $67,000 |
| $68,000 |
| $69,000 |
| $70,000 |
| $71,000 |
| $72,000 |
| $73,000 |
| $74,000 |
| $75,000 |
| $76,000 |
| $77,000 |
| $78,000 |
| $79,000 |
| $80,000 |
| $81,000 |
| $82,000 |
| $83,000 |
| $84,000 |
| $85,000 |