Loan Calculator
Personal loan, auto loan or student loan — enter the amount, APR and term to see the fixed monthly payment, the total interest you will pay, and your payoff date.
Most US loans are amortized: every monthly payment is the same, but the split between interest and principal shifts over time. Early payments are mostly interest; later payments are mostly principal. The formula above solves for the fixed payment that pays the balance to exactly zero after n months.
The annual percentage rate is divided by 12 to get the monthly rate. A 0% loan simply divides the amount by the number of months. This calculator assumes a fixed rate and no fees — check your loan agreement for origination fees or prepayment penalties.
Worked examples
Auto loan
$25,000 at 8.5% APR for 5 years: 60 fixed payments.
→ $512.83 / month
Personal loan
$10,000 at 12% APR for 3 years costs $1,957 in interest over the life of the loan.
→ $332.14 / month
Interest-free loan
$6,000 at 0% for 2 years is simply 6,000 ÷ 24.
→ $250.00 / month