Loan Calculator
Compute monthly payments, total interest and total cost for any loan amount.
Advertisement
Loan Calculator
Compute your monthly payment, total interest and total cost for any amortizing loan.
$
%
years
Monthly payment
Total repaid
Total interest
Annual rate
Total cost
Enter a loan amount and term, then press Calculate.
How the loan calculator works
This uses the standard monthly payment formula for an amortizing loan:
M = P × [ r(1+r)n ] / [ (1+r)n − 1 ]
Example: borrowing $12,000 at 8% over 3 years gives a payment of about $376 per month, roughly $1,536 in total interest.
Use it to: compare loan quotes, understand how interest compounds, and estimate the true cost of borrowing before you commit.