Compound Interest Auto Calculator
Calculate compound interest for auto loans or car savings. Estimate loan payments, total interest paid, and savings growth over time with our comprehensive calculator.
Step 1: Principal & Interest
Understanding Compound Interest
Compound interest means you earn interest on both your initial principal and the accumulated interest from previous periods. This leads to exponential growth over time.
Step 2: Additional Parameters
Compound Interest Results
Total Loan Cost
Loan vs Savings Comparison
| Scenario | Principal | Total Interest | Final Amount | Monthly Payment |
|---|
Yearly Breakdown
Compound Interest Formula
A = P(1 + r/n)^(nt) + PMT × [((1 + r/n)^(nt) – 1) / (r/n)]
Where:
A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for
PMT = the additional monthly contribution/payment
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