Loan Calculator
Calculate monthly payments and total cost for personal, auto, and business loans.
Result
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Enter loan amount, rate, and term, then click Calculate.
Same amortization formula as mortgages. P is loan principal, r is monthly rate, n is number of payments. Works for auto, personal, student, and business loans.
The total borrowed before fees.
Annual percentage rate divided by 12 for monthly calculations.
Labels help context but all use standard amortization.
See principal vs interest split each period.
$25,000 loan, 5.9% APR, 60-month term.
Monthly payment ≈ $483; total interest ≈ $3,980.
Comparing loans by monthly payment only
Fix: Check total interest and loan term together.
Ignoring origination fees
Fix: Add fees to effective cost or reduce net principal.
Extending term to lower payment without checking total cost
Fix: Longer terms almost always mean more interest paid.
Calculate monthly payments and total cost for personal, auto, and business loans.
Result
—
Enter loan amount, rate, and term, then click Calculate.