Loan Calculator

Calculate monthly payments, total interest, and amortization

Monthly Payment
Total Interest
Total Paid

Amortization Schedule

#PaymentPrincipalInterestBalance

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About This Tool

Calculate monthly loan payments, total interest, and amortization schedules. Works for personal loans, auto loans, or any fixed-rate installment loan to help you understand the true cost of borrowing.

How to Use

  1. Enter the loan amount, interest rate, and loan term.
  2. View your monthly payment and total interest paid.
  3. Review the amortization schedule to see how payments are split between principal and interest.

Frequently Asked Questions

How is monthly loan payment calculated?

Monthly payment uses the formula M = P[r(1+r)^n]/[(1+r)^n-1], where P is principal, r is monthly rate, and n is number of payments. This tool does it for you.

What is an amortization schedule?

It's a table showing each monthly payment broken into principal and interest portions. Early payments are mostly interest; later payments are mostly principal.