Loan Payment Calculator

Calculate the monthly payment for a fixed-rate loan based on amount, interest rate, and term.

Inputs

$
%
Result

Monthly Payment

$489.15

Total Paid$29,349.22
Total Interest$4,349.22

Example

Inputs

  • Loan Amount$25000
  • Annual Interest Rate %%6.5%
  • Term (months)60

Result

  • Monthly Payment$489.15
  • Total Paid$29,349.22
  • Total Interest$4,349.22

A $25,000 loan at 6.5% over 60 months costs about $489/month.

How it works

Standard amortization: P is principal, r is monthly interest rate, n is the number of months.

Payment = P × r / (1 − (1 + r)^−n)

FAQ

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