Estimate an interest-only monthly payment on a revolving credit balance.
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This calculator applies the displayed loan formula directly to your inputs. It keeps full precision during the calculation and rounds only the displayed result.
Line of Credit formulaMonthly interest = balance × annual rate ÷ 12
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Using the default example values, the calculator substitutes 20,000 and 10 into the formula. Change the values to model your own scenario.
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The values entered for credit line balance and annual interest rate are accurate for the scenario.
Rates and recurring amounts remain constant for the period represented by the formula.
Provider fees, taxes and timing differences are excluded unless they are explicit inputs.