Loan Calculator
Enter your loan amount, interest rate, and term to instantly see monthly payments, total cost, and total interest paid.
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Frequently Asked Questions
What formula is used?
Standard amortization formula: M = P[r(1+r)^n] / [(1+r)^n - 1], where P = principal, r = monthly rate, n = number of payments.
Does this work for mortgages?
Yes. Enter the home loan amount, annual interest rate, and term in years.
Is this calculator accurate?
It calculates standard fixed-rate amortization. It does not account for taxes, insurance, or variable rates.