Calculate monthly loan payment, total interest, and total cost.
Computes the fixed monthly payment for a fully amortizing loan.
Formula
M = P x [r(1+r)^n] / [(1+r)^n - 1]
$1,980.12
Total interest: $18,807.19
$100,000 at 7% for 5 years = $1,980.12/mo
