LoanCalc
Free · Instant · Accurate✦ No sign-up required
Loan Calculator
Enter your loan details below to instantly calculate monthly payments, total interest, and a full amortization schedule.
Loan Details
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$
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Results will appear here
Fill in your loan details and click Calculate Loan
How This Calculator Works
This tool uses the standard amortization formula to compute your fixed monthly payment:
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
where P = principal, r = monthly rate, n = number of payments.
For zero-interest loans, it divides the principal equally across all payments.
Understanding Your Results
- Monthly PaymentFixed amount owed each month for the full term.
- Total PaymentSum of all payments made over the loan’s lifetime.
- Total InterestExtra cost of borrowing beyond the original principal.
- Amortization ScheduleHow each payment splits between principal and interest monthly.