Loan Calculator
Calculate your monthly loan payments, total interest, and view a complete amortization schedule. Perfect for auto loans, personal loans, and other fixed-rate loans.
Calculator
How it Works
The loan calculator uses the standard amortization formula to calculate fixed monthly payments.
M = P × [r(1+r)^n] / [(1+r)^n - 1]
Real-World Example
Scenario:
You take out a $25,000 auto loan at 6% APR for 5 years.
Calculation:
M = 25000 × [0.005(1.005)^60] / [(1.005)^60 - 1]
Result:
Monthly payment: $483.32 | Total interest: $3,999.20