Loan Calculator
Estimate your monthly loan payment. Enter principal, annual interest rate, and term in years.
Loan Calculator
Monthly Payment
$189
Extra payments to reduce term
Adding $100/month extra to principal: loan paid off in about 3.2 years (vs 5 years with no extra).
Amortization by year (principal vs interest)
Each bar shows total principal and interest paid in that year. Early years are mostly interest.
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.
Embed this calculator
Copy the code below to embed this calculator on your site.
<iframe src="https://smartcalculators.tools/embed/loan-calculator" title="Loan Calculator" width="100%" height="400" frameborder="0"></iframe>