Loan Calculator
Estimate your monthly loan payment. Enter principal, annual interest rate, and term in years.
Live · updates as you type
Monthly Payment
$188.71
- × months60
- Total paid$11,323
- Interest$1,323
Total cost$11,323over 5 years
- Principal$10,000(88%)
- Interest$1,323(12%)
Loan Calculator
Drag the sliders · everything updates instantly
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Try these·What if…
r = 6%
If rate were 6.00%
$193.33
+$4.62/mo
n = 15y
If you chose a 15-year term
$79.08
costs +$2,912
x = $200
If you paid +$200/mo extra
2.3y
saves 2.7y of payments
How it works
Same formula as a mortgage: monthly payment = principal × [r(1+r)^n] / [(1+r)^n − 1].
Frequently asked questions
Standard amortized loan formula: payment depends on principal, annual rate (as monthly decimal), and number of monthly payments.
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