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Loan Calculator

Estimate monthly payments, total interest and the effect of extra payments, with an amortization schedule.

Your calculation

USD
%
months
USD

Use the nominal annual interest rate, not APR including fees. Payments are monthly; extra payments go toward principal.

Result

Scheduled monthly payment

$304.22

First payment including extra
$304.22
Total interest
$951.88
Total paid
$10,951.88
Paid off in
36 months
Interest saved with extra payments
$0.00
Months saved
0

Fixed-rate estimate, excluding fees, insurance and taxes. Amounts and monthly interest round to cents; the final payment settles the remaining balance.

View monthly amortization schedule (36 payments)
How each payment reduces your loan
MonthPaymentPrincipalInterestBalance
1$304.22$254.22$50.00$9,745.78
2$304.22$255.49$48.73$9,490.29
3$304.22$256.77$47.45$9,233.52
4$304.22$258.05$46.17$8,975.47
5$304.22$259.34$44.88$8,716.13
6$304.22$260.64$43.58$8,455.49
7$304.22$261.94$42.28$8,193.55
8$304.22$263.25$40.97$7,930.30
9$304.22$264.57$39.65$7,665.73
10$304.22$265.89$38.33$7,399.84
11$304.22$267.22$37.00$7,132.62
12$304.22$268.56$35.66$6,864.06
13$304.22$269.90$34.32$6,594.16
14$304.22$271.25$32.97$6,322.91
15$304.22$272.61$31.61$6,050.30
16$304.22$273.97$30.25$5,776.33
17$304.22$275.34$28.88$5,500.99
18$304.22$276.72$27.50$5,224.27
19$304.22$278.10$26.12$4,946.17
20$304.22$279.49$24.73$4,666.68
21$304.22$280.89$23.33$4,385.79
22$304.22$282.29$21.93$4,103.50
23$304.22$283.70$20.52$3,819.80
24$304.22$285.12$19.10$3,534.68
25$304.22$286.55$17.67$3,248.13
26$304.22$287.98$16.24$2,960.15
27$304.22$289.42$14.80$2,670.73
28$304.22$290.87$13.35$2,379.86
29$304.22$292.32$11.90$2,087.54
30$304.22$293.78$10.44$1,793.76
31$304.22$295.25$8.97$1,498.51
32$304.22$296.73$7.49$1,201.78
33$304.22$298.21$6.01$903.57
34$304.22$299.70$4.52$603.87
35$304.22$301.20$3.02$302.67
36$304.18$302.67$1.51$0.00
Calculated in your browser. Your inputs are not sent to a server.

How to use this calculator

Enter the amount borrowed, nominal annual interest rate and number of monthly payments. Add an optional extra monthly payment to compare interest and payoff time. Expand the schedule to see principal, interest and remaining balance. Currency selection changes labels only.

The math behind it

r = annual interest rate / 100 / 12
Payment = principal × r / [1 − (1 + r)^(−months)]
At 0%: payment = principal / months
Monthly interest = opening balance × r
Principal paid = payment − interest

A worked example

A 10,000 loan at 6% for 36 months has a scheduled monthly payment of 304.22. With no interest, 1,200 over 12 months is 100 per month. Extra payments reduce the remaining principal and future interest.

Assumptions & precision

Fixed nominal interest and end-of-month payments; no fees, taxes, insurance, rate changes, payment holidays or early-repayment penalties. APR including fees is not the input rate. Principal, extra payments, monthly interest and payments round to two decimal places. The final payment settles the exact remaining cents and can differ slightly. Supported terms: 1–600 whole months, rates 0–100%, amounts up to 1 billion. This is an estimate, not a lender quote.

A common question

Is this the same as a mortgage payment?

It estimates the principal-and-interest portion of a fixed-rate amortizing loan. A mortgage bill can also include taxes, insurance and other charges that are excluded here.