Calculate monthly payments, interest & amortization
Enter your loan amount, annual interest rate, and loan term in years. The calculator instantly shows your monthly payment, total interest paid over the life of the loan, and total cost. It also provides a visual breakdown and a full amortization schedule showing how each payment is split between principal and interest.
Monthly payment is calculated using the formula: M = P × [r(1+r)^n] / [(1+r)^n – 1], where P is the principal, r is the monthly interest rate, and n is the number of payments. This tool works for mortgages, auto loans, personal loans, and any fixed-rate loan.