See the monthly payment and total paid when equipment is financed over a multi-year contract.
Many providers let you spread equipment costs over a contract of two to five years, sometimes at 0 percent and sometimes with interest. Whatever the structure, the question is the same: how much will the equipment itself cost by the end of the term? This calculator answers that for the equipment portion of a deal.
Enter the amount financed, the annual percentage rate (use 0 if the offer is interest free), the contract length in years and any upfront fees. It uses the standard amortizing-loan formula: payment = P x r / (1 - (1 + r)^-n), where r is the monthly rate and n the number of months. At a 0 percent rate the payment is simply the amount divided by the months.
Worked example (illustrative): 1,200 dollars at 0 percent over 3 years is 1,200 / 36 = 33.33 dollars a month, plus 100 dollars in upfront fees, for a total of 1,300 dollars.
Limits: This models equipment only. Monitoring is a separate monthly fee, and many contracts bundle the two into one bill. Multiply your monthly monitoring fee by the number of months and add it to the total to see the real cost of the contract. Early termination charges are not modeled.
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