Loan Calculator
Calculate monthly payments, total interest, and generate detailed amortization schedules for loans.
Loan Calculator
Calculate monthly payments, total interest, and payment schedules for loans
$188.71
Monthly Payment
$11,322.74
Total Payment
$1,322.74
Total Interest
60 months
Payoff Time
Payment Schedule
60 payments| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $188.71 | $147.05 | $41.67 | $9,852.95 |
| 2 | $188.71 | $147.66 | $41.05 | $9,705.30 |
| 3 | $188.71 | $148.27 | $40.44 | $9,557.02 |
| 4 | $188.71 | $148.89 | $39.82 | $9,408.13 |
| 5 | $188.71 | $149.51 | $39.20 | $9,258.62 |
| 6 | $188.71 | $150.13 | $38.58 | $9,108.48 |
| 7 | $188.71 | $150.76 | $37.95 | $8,957.72 |
| 8 | $188.71 | $151.39 | $37.32 | $8,806.34 |
| 9 | $188.71 | $152.02 | $36.69 | $8,654.32 |
| 10 | $188.71 | $152.65 | $36.06 | $8,501.66 |
| 11 | $188.71 | $153.29 | $35.42 | $8,348.37 |
| 12 | $188.71 | $153.93 | $34.78 | $8,194.45 |
| ... and 48 more payments | ||||
Loan Calculation Tips
Understanding your loan and ways to save money
💡 Interest Savings
Making extra payments reduces the principal faster, saving you significant interest over time. Even small extra payments can make a big difference.
📊 APR vs Interest Rate
The interest rate is the base rate. APR includes additional fees and costs. Always compare APR when shopping for loans.
⏰ Shorter Terms
Shorter loan terms mean higher monthly payments but much less total interest paid. Consider if you can afford the higher payments.
🎯 Prepayment
Most loans allow prepayment without penalties. Paying extra when possible can save thousands in interest.
About This Tool
This tool processes all data locally in your browser for maximum privacy and security. No data is sent to any server.