Loan Calculator

The calculator applies the standard amortization formula, M = P × r(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the interest rate per payment period, and n is the total number of payments. This produces a fixed payment that covers both principal and interest for the full term, with the interest portion largest at the start and shrinking as the balance is paid down.

It's a quick way to compare loan offers before committing to one — seeing how a lower rate or a shorter term changes both the monthly payment and the total interest paid over the life of the loan, which is often far more revealing than the headline rate alone.

The result assumes a fixed rate, a fixed term and equal payments with no missed or extra payments. It won't model variable-rate loans, interest-only periods, balloon payments, or the effect of paying extra toward principal, all of which change the actual interest paid compared to the standard schedule shown here.