Loan Calculator
Work out your monthly payment, total interest and a full amortization schedule. Supports optional extra monthly payments.
Monthly Payment
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# of Payments
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Total Interest
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Total Cost
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Estimated Payoff
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Amortization Schedule
| # | Date | Payment | Principal | Interest | Extra | Balance |
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Loan Calculator FAQ
How is the monthly payment calculated?
For fixed-rate loans we use the standard formula: Payment = P · r / (1 − (1 + r)−n), where P is principal, r is monthly rate (APR/12), and n is number of payments.
What do extra payments do?
Extra monthly payments are applied directly to principal after the required interest is paid, reducing total interest and shortening the payoff time.