Finance
Loan Calculator
Compute loan payments, interest and amortization.
Monthly payment
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Total interest
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Total paid
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FAQ
- What formula is used to compute the monthly payment?
- The standard amortization formula: M = P * r * (1 + r)^n / ((1 + r)^n - 1), where P is the loan principal, r is the monthly interest rate (annual rate / 100 / 12), and n is the total number of monthly payments (years * 12). When the rate is 0%, the monthly payment is simply P / n.
- What does "total interest" mean?
- Total interest is the difference between the total amount you repay over the life of the loan and the original principal borrowed. It represents the cost of borrowing.
- Is my data sent anywhere?
- No. All calculations run entirely in your browser. No data is uploaded or stored.