Tool
Loan Payment Calculator
Calculate monthly loan payments and total paid.
Finance / Percentage Calculators
What this tool does
Estimate monthly payment and total amount paid over the loan term using standard amortization.
How to use
- Enter loan amount, annual interest rate, and term in years.
- View monthly payment and total paid.
Formula
M = P × [r(1+r)^n] ÷ [(1+r)^n − 1]
Examples
$20,000 loan at 6% for 5 years
Input: amount=20000, rate=6, years=5
Output: ≈ $387/month
Standard fixed-rate amortization formula.
Assumptions
- Fixed interest rate.
- Equal monthly payments.
- Estimate only—not financial advice.
Common use cases
- Compare auto loan offers
- Estimate personal loan payments
- Plan debt repayment
FAQ
Does this include fees or insurance?
No. Only principal and interest on the loan amount.
What if rate is zero?
Payment equals principal divided by number of months.
Is this a loan offer?
No. This is an estimate for planning purposes.
Explore related workflows
Advanced mortgage analysis
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Last reviewed: 2026-05-23