How to use this calculator
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To use this to calculate your monthly payment amount for a mortgage: Select one row for calculations; 3 rows are provided for comparisons. Enter the number of years of the mortgage between 1 and 40. Most mortgages are for 15 or 30 years. Enter the interest rate of the loan; Either .075 or 7.5 format is acceptable. Enter the loan amount between 100 and 1,000,000; Do not use the ' $ ' character. Select Calculate to calculate OR select Clear to reset row and repeat steps 1-5.