Loan Calculator

Calculate monthly payments, total interest, and payoff schedule for any personal loan. Free loan calculator with amortization and total cost breakdown.

loan

Result

512.91

Breakdown

Total Paid
30,775
Total Interest
5,775

Frequently Asked Questions

How is loan interest calculated?▼
Most loans use amortized interest where each payment covers accrued interest plus a portion of principal. The formula is M = P[r(1+r)^n]/[(1+r)^n-1].
What is APR vs interest rate?▼
The interest rate is the cost of borrowing the principal. APR includes the interest rate plus fees, giving the true yearly cost of the loan.

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