How is the monthly payment calculated?

Using the standard amortization formula: M = P × r(1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly rate, and n is number of payments.

Can I see the amortization schedule?

Yes. Click 'Show Amortization Schedule' to see a month-by-month breakdown of principal, interest, and remaining balance.

Does it work for mortgages?

Yes. Enter your home loan amount, interest rate, and term (e.g., 30 years) to see your monthly mortgage payment.

Loan Calculator

Calculate monthly payments, total interest, and view full amortization schedule for any loan.

How to use: Enter loan amount, interest rate, and term to see monthly payments and total cost.

Loan Amount ($)

Interest Rate (%)

Loan Term (years)

Monthly Payment

$1,580.17

Total Payment

$568,861.22

Total Interest

$318,861.22

Loan & Mortgage Calculator

Calculate monthly payments for any loan. Enter the loan amount, annual interest rate, and term in years. See your monthly payment, total cost, total interest, and a full month-by-month amortization schedule.

Frequently Asked Questions

How is the monthly payment calculated?: Using the standard amortization formula: M = P × r(1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly rate, and n is number of payments.
Can I see the amortization schedule?: Yes. Click 'Show Amortization Schedule' to see a month-by-month breakdown of principal, interest, and remaining balance.
Does it work for mortgages?: Yes. Enter your home loan amount, interest rate, and term (e.g., 30 years) to see your monthly mortgage payment.