Loan Calculator

Calculate monthly payments, total interest, and view a full amortization schedule.

Loan Amount ($)

Annual Interest Rate (%)

Loan Term (years)

How Loan Payments Are Calculated

The monthly payment is calculated using 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, and n is the total number of payments. Each payment is split between interest (on the remaining balance) and principal reduction.