Financial
Loan Calculator
Calculate monthly loan payments, total interest, and total cost for any loan.
$
%
months
Formula
M = P[r(1+r)^n]/[(1+r)^n-1]
How It Works
Enter your loan details to calculate the monthly payment:
1. Loan Amount - The total amount you're borrowing
2. Interest Rate - Annual interest rate (APR)
3. Loan Term - How long to repay in months
The calculator uses standard amortization to determine your fixed monthly payment.
Frequently Asked Questions
What's the difference between APR and interest rate?
APR includes fees and other costs, while the interest rate is just the cost of borrowing. APR gives a more complete picture of loan cost.
How can I pay off my loan faster?
Make extra payments toward principal, pay bi-weekly instead of monthly, or refinance to a shorter term.
Related Calculators
More Free Tools
Part of the ZIPP family of free online tools