Please enter a loan amount greater than zero.
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The standard amortization formula calculates a fixed monthly payment that fully pays off the loan over the specified term.
M = P[r(1+r)^n]/[(1+r)^n-1]Total cost is the sum of all monthly payments over the loan term, including both principal and interest.
Total = Monthly Payment × Number of PaymentsThe Loan Calculator applies industry-standard financial equations used by lenders, accountants, and planners. All intermediate values are computed with floating-point precision and rounded only for display.
Result = f(principal, rate, period, …)Updated: July 2026
Typical auto loan scenario with standard terms and interest rate.
→ ~$466/month, $2,960 total interest
Unsecured personal loan for debt consolidation or major purchase.
→ ~$313/month
A homebuyer runs the Loan Calculator with two interest rates side by side to compare total interest paid over 30 years before choosing a lender.
APR includes fees and represents the true cost of borrowing. A loan advertised at 5% interest may have a 5.8% APR once origination fees are included.
Longer terms mean lower monthly payments but significantly more total interest. A 7-year car loan costs much more than a 3-year loan on the same amount.
See exactly what a loan will cost before you sign. Enter the amount borrowed, annual interest rate, and repayment term to get your fixed monthly payment, total interest paid, and a full amortization breakdown.