Loan Calculator
Calculate monthly payments and total loan interest.
How to Use
- Enter the loan amount (principal).
- Enter the annual interest rate as a percentage.
- Enter the loan term in years.
- Click Calculate to see your estimated monthly payment, total paid, and total interest.
Features
- Standard amortizing loan payment formula
- Shows monthly payment, total amount paid, and total interest
- Works for mortgages, auto loans, and personal loans alike
Frequently Asked Questions
What formula does this use?
This calculator uses the standard fixed-rate amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is principal, r is the monthly interest rate, and n is the number of payments.
Does this include taxes, insurance, or fees?
No — this calculates principal and interest only. Real-world loans (especially mortgages) often include additional costs like taxes, insurance, or origination fees.
Is this financial advice?
No, this tool provides estimates for informational purposes only. Consult a qualified financial advisor or lender for advice specific to your situation.
