Tool

Loan Payment Calculator

Car loan, mortgage, or personal loan — enter the amount, rate, and term to see your monthly payment and how much interest you'll pay.

Loan amount ($) Interest rate (% / year) Term (years)

$0.00

per month

$0.00

total interest

$0.00

total paid

How it works

This uses the standard amortized-loan formula. Each month you pay interest on what's left, plus a bit of the principal:

Payment = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)

where P = loan amount, r = monthly rate (annual ÷ 12), n = number of months. The total interest is what you pay on top of the amount you borrowed.