Among the expected sources of gravitational waves for the Laser Interferometer Space Antenna (LISA) is the capture of solar-mass compact stars by massive black holes residing in galactic centers. We construct a simple model for such a capture, in which the compact star moves freely on a circular orbit in the equatorial plane of the massive black hole. We consider the gravitational waves emitted during the late stages of orbital evolution, shortly before the orbiting mass reaches the innermost stable circular orbit. We construct a simple model for the gravitational-wave signal, in which the phasing of the waves plays the dominant role. The signal's behavior depends on a number of parameters, including \mu, the mass of the orbiting star, M, the mass of the central black hole, and J, the black hole's angular momentum. We calculate, using our simplified model, and in the limit of large signal-to-noise ratio, the accuracy with which these quantities can be estimated during a gravitational-wave measurement. Our simplified model also suggests a method for experimentally testing the strong-field predictions of general relativity.
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