Calculate monthly payments, total interest, and view the full amortization schedule.
This loan calculator computes your monthly payment, total interest, and total amount paid over the life of a fixed-rate loan. Use it for mortgages, car loans, personal loans, or student loans. The amortization schedule shows exactly how each payment is split between principal and interest.
Results are for estimation purposes. Actual loan terms may vary. Always consult a financial advisor for major borrowing decisions.
The standard amortization formula is used: M = P × [r(1+r)^n] / [(1+r)^n – 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.
An amortization schedule breaks down each payment into principal and interest portions. Early in the loan, most of your payment goes to interest. Over time, more goes toward principal.
A higher interest rate increases both your monthly payment and the total interest paid. Even a 1% increase on a $250,000 mortgage can add tens of thousands of dollars over 30 years.
Yes. Enter the car price (minus down payment), the annual interest rate, and the loan term in years. Typical car loans are 3-7 years.