Loan Calculator
Calculate loan payments and total interest.
Monthly Payment
$0
$0
Total Payment
$0
Total Interest
Jan 2030
Payoff Date
How Loan Payments Work
Monthly payments are calculated using the formula:
M = P × [r(1+r)^n] / [(1+r)^n-1]
- M = Monthly payment
- P = Principal (loan amount)
- r = Monthly interest rate
- n = Number of payments
FAQ
Principal is the original loan amount you borrow, before interest.
Make extra payments toward principal, pay bi-weekly instead of monthly, or refinance to a lower rate.