MRI Payment Plan Calculator

Many imaging providers and hospitals offer interest-free in-house payment plans, and some patients use a medical credit card or a personal loan instead. This calculator shows what each option costs. Enter the amount you would finance, the annual percentage rate, the length of the plan in years and any upfront fee.

The formula is the standard instalment-loan payment: monthly payment = amount x r / (1 - (1 + r) to the power of minus n), where r is the monthly rate (APR divided by 12) and n is the number of months. When the rate is zero, the payment is simply the amount divided by the number of months.

Worked example (illustrative only): Financing $1,500 over one year at 0 percent costs $125 per month and $1,500 in total. The same $1,500 at 25 percent APR over one year costs about $142.7 per month, roughly $212 more in total interest.

A warning about deferred-interest promotions: if a card charges interest from the purchase date when the balance is not fully paid by the end of the promotional period, the real cost can be far higher than this calculator shows. Read the terms, and compare against asking the provider for an interest-free plan first.