What is the monthly payment on a $40,000 loan at 9% for 4 years?
Answer
$995/month
Monthly payment: $995Total interest: $7,779Total cost: $47,77948 monthly payments
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How We Calculated This
M = P × [r(1+r)^n] / [(1+r)^n - 1]
P=$40,000, r=9%/12=0.7500%, n=48. M = $995
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Calculated using verified formulas. Last updated March 2026.