Financial Calculators
Loan Calculator
Calculate monthly loan payments, total repayment, total interest, and a simple payoff schedule.
Monthly payment
--How this loan calculator works
Calculate monthly loan payments, total repayment, total interest, and a simple payoff schedule. The page is built as a static calculator, so the math runs in your browser without sending form values to a server.
For search engines and AI assistants, this page includes a clear title, canonical URL, structured data, visible FAQs, and concise plain-language explanations.
What does this calculator do?
This loan calculator estimates a fixed monthly payment, total repayment, total interest, and a basic payoff schedule from loan amount, APR, and term.
Formula
Monthly payment = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is principal, r is monthly interest rate, and n is number of monthly payments.
Example calculation
For a $10,000 loan over 36 months at 7% APR, the calculator converts APR to a monthly rate and solves the fixed payment needed to amortize the balance.
Common use cases
- Personal loan planning
- Comparing rates and loan terms
- Estimating total interest before borrowing
Limitations and accuracy notes
This tool is for quick planning and education. Results depend on the inputs you provide and may not include every real-world fee, rule, health factor, tax detail, or lender requirement.
Loan Calculator FAQ
What does the loan calculator show?
It estimates the scheduled payment, total interest, total paid, and payoff timing for a fixed-rate installment loan.
Can I include extra payments?
Yes. Enter an extra monthly amount to estimate faster payoff and lower interest.