Loan Calculator
Calculate monthly loan payments, total interest and total cost. Supports any loan amount, rate and term.
How to use
1. Enter the loan amount. 2. Enter the annual interest rate (%). 3. Enter the loan term in years. 4. Results update instantly.
Formula
Monthly payment = P * (r(1+r)^n) / ((1+r)^n - 1), where P = principal, r = monthly rate, n = number of months.
Examples
- $10,000 at 5% over 5 years → Monthly: ~$188.71, Total interest: ~$1,322.75
Important notes
Results are estimates assuming a fixed interest rate and equal monthly payments. Actual lender terms may differ.
Frequently asked questions
Does this include fees?
No, it covers principal and interest only. Add fees separately.
Can I use it for a car loan?
Yes, it works for any fixed-rate installment loan.
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