How it works
- Enter loan amount, APR, and term.
- The calculator converts APR to a monthly rate.
- It estimates a fixed monthly payment plus interest.
Loan Payment Calculator
%
years
Monthly Payment
$401
Total Interest
$4,046
Total Paid
$24,046
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Formula
Payment = P·r / (1 − (1+r)^(-n))
Example
$20,000 at 7.5% for 5 years → monthly payment ≈ $401
FAQ
Fixed-rate loans use an amortization formula based on principal, interest rate, and term. Payments stay the same each month.
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