Loan Payment Calculator
Calculate your monthly loan payments with our comprehensive calculator. Determine payment amounts based on loan amount, interest rate, and term length for mortgages, auto loans, personal loans, and more.
Step 1: Loan Details
Understanding Loan Terms
Longer loan terms result in lower monthly payments but higher total interest paid. Shorter terms have higher monthly payments but lower total interest costs.
Step 2: Additional Parameters
About Extra Payments
Making extra payments can significantly reduce your total interest paid and shorten your loan term. Even small additional payments can make a big difference over time.
Loan Payment Results
Estimated Monthly Payment
Loan Term Comparison
| Loan Term | Monthly Payment | Total Interest | Total Paid |
|---|
Amortization Schedule (First 12 Months)
| Month | Payment | Principal | Interest | Remaining Balance |
|---|
Loan Payment Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
Where: P = Loan Amount, r = Monthly Interest Rate, n = Total Number of Payments
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