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PMT = PV × r / (1 − (1+r)^−n). For monthly payments, divide annual rate by 12 and multiply years by 12. Bi-weekly payments: use 26 periods/year—this creates one extra monthly-equivalent payment annually and saves years of interest. Balloon loans have a large final payment; factor it in as a future value. Early payoff always saves interest proportional to remaining balance.
Standard fixed payment on an amortizing loan, plus the same payment every month with extra dollars applied to principal.
Scheduled payment (unchanged): $2,023 + $200 extra
Assumes no fees, penalties, or rate changes. Rounding may differ from your lender’s system.