Loan Calculator
Calculate monthly payment, total interest, and total cost for any loan
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Loan Payment Formula
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ - 1]
P = principal, r = monthly rate, n = number of payments
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Guide
How it works
Enter any loan amount, interest rate, and term to instantly see your monthly payment and total cost. Works for personal loans, auto loans, student loans, and more.
What is APR vs interest rate?expand_more
The interest rate is the base cost of borrowing. APR (Annual Percentage Rate) includes fees and other costs, giving a truer picture of loan cost.
How can I reduce my total interest?expand_more
Make extra payments toward principal, choose a shorter loan term, or refinance at a lower rate.
Does this work for car loans?expand_more
Yes — this is a generic loan calculator. For car-specific details, also try our Car Loan Calculator.
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