Loan Calculator

Monthly Loan Payment Estimator

Input Fields

Loan Amount (P)

P

$

Enter the loan principal amount

Annual Interest Rate

r

%

Enter the annual interest rate

Loan Term (years)

n

years

Enter the loan term in years

CalculateReset

Calculate automaticallyIf enabled, the result will update automatically when you change any value.

Your Results

Monthly Payment

Total Payment

Total Interest

Leave a Comment

How did this result make you feel?

0😀 Like 0💡 Helpful 0😕 Confused 0😞 Disappointed 0❌ Inaccurate

Loan Monthly Payment Formula

\[ \text{Monthly Payment} = \frac{P \times r}{1 – (1 + r)^{-n}} \]

Where:

• $$P$$ = Loan principal (initial amount borrowed)
• $$r$$ = Monthly interest rate (annual rate divided by 12)
• $$n$$ = Total number of monthly payments
• $$Monthly Payment$$ = Fixed monthly loan payment amount

The Loan Calculator is an essential tool for estimating your fixed monthly payment for mortgages, car loans, student loans, and personal loans. It helps you budget more effectively by understanding how much you’ll pay over the life of the loan.