Loan Payment Calculator

Estimate your loan monthly payment.

How did we calculate your loan payment?

This loan payment calculator helps you determine the monthly payment for your loan and the total interest you will pay over the course of your loan. Here is how it works and what each field means:

Investment Basics

The initial amount of money borrowed, also known as the principal.

Loan Term

The term of the loan is the length of time that the borrower has to repay the loan. You can specify the loan term in months or years.

Interest Rate

The interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed. In this calculator, it is expected to input the annual interest rate.

Results

Once you've filled in the above fields, you can hit Calculate Loan Payment. This button will calculate your monthly payment based on the loan amount, term, and interest rate you've specified. The formula used for this calculation is a standard formula used to calculate loan payments, taking into account the effect of interest. The results will display your monthly payments and the total interest you will pay over the course of your loan. Please keep in mind that this calculator should be used as a guide. The actual loan conditions may vary, and the results may not take into account additional costs or fees associated with your loan. Always verify with your lender or financial advisor for precise information.

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