Factor Table

The following factors can be used to calculate the monthly payment for loans at various interest rates and loan terms (per $1,000).  As an example, to obtain the monthly payment for a $25,000 loan for 30 years at 5.50% interest, multiply 25 times 5.68.

Interest Rate          15 Year           20 Year           30 Year

5.00%                          7.91                 6.60                 5.37

5.50%                          8.17                 6.88                 5.68

6.00%                          8.44                 7.16                 6.00

6.50%                          8.71                 7.46                 6.32

7.00%                          8.99                 7.75                 6.65

7.50%                          9.27                 8.06                 6.99

About the Author

Mark H. Witte is a strong proponent for energy efficiency and renewable energy, and believes individuals should have more control over how the energy for their homes is produced.