Finance
Loan Calculator
Estimate monthly payments on any loan.
Result
$293.49 / mo
Total paid
$17,609.53
Total interest
$2,609.53
Compute the monthly payment, total cost, and total interest for a fixed-rate loan based on principal, rate, and term.
How it works
Uses the standard amortization formula: M = P · i / (1 − (1+i)^−n), where P is the principal, i is the monthly rate, and n is the number of months.
Example
A $15,000 loan at 6.5% APR over 5 years gives a monthly payment of ≈ $293.49 and total interest of ≈ $2,609.
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