Calculators
Loan Calculator
Calculate your monthly loan payment, total repayment, and total interest. Enter principal, interest rate, and term.
Input
Result
Loan results will appear here.
How to Use
- Enter the loan principal, annual interest rate, and term in months.
- Choose a repayment type (equal monthly installments).
- The monthly payment, total interest, and total repayment are calculated instantly.
Calculation Method
For an equal-installment loan, the monthly payment is calculated with the standard amortization formula: M = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of months. Each payment is split between interest and principal; early payments contain more interest, later payments contain more principal.
Common Uses
- Estimating monthly payments before taking out a mortgage, car loan, or personal loan.
- Comparing total interest cost across different loan terms or interest rates.
- Budgeting for a major purchase financed with debt.
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