Loan Payment Calculator
Explore monthly payments and total interest from your assumptions.
Runs locally in your browser
Monthly payment
304.22
Total interest
951.90
Total repaid
10951.90
Use one consistent currency. Excludes fees, insurance and taxes.
Discuss a result
Write a short summary and review it before posting. Your tool inputs are never copied automatically.
What is the Loan Payment Calculator?
Explore monthly payments and total interest from your assumptions.
How to use it
- 1Enter the principal, annual interest rate and term.
- 2Review the monthly payment and total interest.
- 3Compare the estimate with actual loan terms.
How it works
Uses the standard fixed-rate amortization formula. At zero interest, the principal is divided evenly over the months.
Example
A $10,000 balance at 6% annual interest over 3 years has a monthly payment of about $304.22.
Limitations & notes
- Excludes fees, insurance, taxes, variable rates and lender-specific rounding.
- For planning only; compare any offer with its actual terms.
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