Loan Calculator
Calculate your monthly loan payment, total repayment and total interest from the amount, annual rate and term.
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How Is a Loan Payment Calculated?
Fixed loan payments use the annuity formula: Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the amount borrowed, r the monthly interest rate and n the number of months. The tool shows the monthly payment, the total you will pay back and how much of it is interest.
Everything is computed in your browser. The result is indicative — banks may add fees, insurance and taxes on top.
Frequently Asked Questions
How do I convert an annual rate to a monthly rate?
Divide the nominal annual percentage rate by 12. For example 24% per year is 2% per month. This tool takes the annual rate and does the conversion automatically.
Why is the total interest so high on long terms?
Interest accrues on the outstanding balance every month. The longer the term, the more months the balance stays high, so total interest grows faster than linearly with the term.
Does the result include bank fees?
No. The calculation covers principal and interest only. Origination fees, insurance and taxes vary by bank and country and are added on top of these figures.
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Loan Calculator