Loan Calculator
Calculate loans
How Loan Calculation Works
The Loan Calculator computes monthly payments, total interest, and amortization schedules for any fixed-rate loan. Enter the loan amount, interest rate, and term to see exactly how much you will pay each month and how your payments split between principal and interest over time.
Formula
Monthly Payment = P x [r(1+r)^n] / [(1+r)^n - 1] where P=principal, r=monthly rate, n=total payments
Key Features
- ✓Monthly payment calculation for any loan amount
- ✓Complete amortization schedule with principal/interest split
- ✓Total interest paid over the life of the loan
- ✓Compare different loan terms and rates
Pro Tip
Even small interest rate differences matter significantly over long terms. A 0.5% lower rate on a 200,000 USD 30-year mortgage saves over 20,000 USD in total interest. Always shop multiple lenders.
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