Loan Calculator

Estimate your monthly loan payments, including interest and total repayment amount.

Loan Amount

Annual Interest Rate (%)

Loan Term (Years)

Monthly Payment

$0.00

Total Interest

$0.00

Total Payback

$0.00

How Loans Work

When you take out a loan, you agree to pay back the principal amount plus interest over a set period. The interest is the cost of borrowing money.

Monthly payments are calculated using the amortization formula:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]

Where:
M = Monthly payment
P = Principal loan amount
i = Monthly interest rate (Annual rate / 12)
n = Number of months (Years * 12)