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About Cabling Installation & Maintenance:

Bringing practical business and technical intelligence to today's structured cabling professionals.

For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

Throughout our annual magazine, weekly email newsletters and 24/7/365 website, Cabling Installation & Maintenance digs into the essential topics our audience focuses on:

  • Design, Installation and Testing: We explain the bottom-up design of cabling systems, from case histories of actual projects to solutions for specific problems or aspects of the design process. We also look at specific installations using a case-history approach to highlight challenging problems, solutions and unique features. Additionally, we examine evolving test-and-measurement technologies and techniques designed to address the standards-governed and practical-use performance requirements of cabling systems.
  • Technology: We evaluate product innovations and technology trends as they impact a particular product class through interviews with manufacturers, installers and users, as well as contributed articles from subject-matter experts.
  • Data Center: Cabling Installation & Maintenance takes an in-depth look at design and installation workmanship issues as well as the unique technology being deployed specifically for data centers.
  • Physical Security: Focusing on the areas in which security and IT—and the infrastructure for both—interlock and overlap, we pay specific attention to Internet Protocol’s influence over the development of security applications.
  • Standards: Tracking the activities of North American and international standards-making organizations, we provide updates on specifications that are in-progress, looking forward to how they will affect cabling-system design and installation. We also produce articles explaining the practical aspects of designing and installing cabling systems in accordance with the specifications of established standards.

How Do You Calculate Monthly Payments on a Loan?

If you don’t have the cash on hand to cover an expense, a loan can come in handy. While there are a variety of loans out there, many of them are installment loans. With an installment loan, you’ll receive a lump sum of money upfront and repay it over time via fixed monthly payments or installments. Speaking of monthly payments, how do you calculate them on a loan? Keep reading to find out.

 

Why It’s Important to Know Your Monthly Payments

There are several reasons you should understand your monthly loan payments. First and foremost, they can give you an idea of the total cost you’ll pay to borrow money. You may also use this knowledge to potentially lower your costs. If your payments are low and you can afford to put more toward your loan every month and/or pay off your loan early, you may save hundreds or even thousands less in interest.

 

Ways to Calculate Monthly Loan Payments

When you accept a loan from a lender, you’ll receive the principal, which is the money you originally agreed to pay back, and interest or the charge you’ll pay for the privilege of borrowing money. In most cases, your monthly loan payments will be divided into equal payments over the loan term. Calculating your payments will depend on the type of loan you take out. The most common types of loans include:

  • Interest-only loans: While interest-only loans are less common, they do exist. With these loans, you only pay interest in the first few years. This means your principal will stay as is.
  • Amortizing loans: Amortizing loans require you to pay toward both the principal and interest over a set period of time. The amount you pay on interest and principal will change over the loan term, but your monthly payment will stay the same.
  • Credit card loans: Credit cards are revolving lines of credit. You can use as much or as little as you’d like up to a set credit limit. You’ll only pay interest on the amount you borrow.

 

Use a Loan Payment Calculator

While you can try to calculate your monthly payments on your own, doing so can get complicated. That’s why using a loan payment calculator is a good idea. All you have to do is plug in your desired loan amount and annual percentage rate or APR, which considers interest and other fees. The calculator will then spit out your estimated monthly loan payments based on the info you provided. You’ll be able to see your loan payment for various loan terms.

 

The Bottom Line

A loan can help you meet a variety of short-term or long-term financial goals. Before you commit to one, however, make sure you calculate your monthly loan payments. Once you do, you’ll be able to avoid unwanted financial surprises and budget accordingly.

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Contact Information:

Name: Keyonda Goosby
Email: keyonda.goosby@iquanti.com
Job Title: Consultant

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