Loan Calculator

Calculate your monthly payments, total interest, and total loan cost instantly.

Loan Amount

Annual Interest Rate (%)

Loan Term (Years)

Payment Summary

Monthly Payment

$188.71

Total Principal

$10,000.00

Total Interest

$1,322.74

Total Cost of Loan

$11,322.74

How this Calculator Works

This calculator uses the standard amortization formula for fixed-rate loans (such as auto loans, personal loans, or fixed-rate mortgages). It assumes interest is compounded monthly and payments are made monthly.