Loan Calculator
Estimate your monthly loan payment. Enter principal, annual interest rate, and term in years.
Loan Calculator
Monthly Payment
$189
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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).
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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