Use this handy utility to calculate how much boat you can afford.

# of
Payments		 Interest
Rate		 Principal   Monthly
Payment
 

To calculate a monthly payment simply:

  • Enter the number of monthly payments (# of years times 12) then
  • Enter the interest rate (current rates are about 9.9%) then
  • Enter the principal (amount of the loan) in whole numbers without any commas i.e.. $15,000 should be entered as 15000

For example, if you take a $ 15,000 for 3 years at 9.9% your payment will be $483.30.

You can use TAB or the mouse to move from field to field.