Loan Calculator
Calculate monthly payments and total interest for any type of loan.
Monthly Payment
Total Interest
Total Paid
Understanding Loan Payments
Loan payments are calculated using the same amortization formula as mortgages. Each payment includes both principal and interest, with the proportion of interest decreasing over time as the balance drops.
Monthly Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]