Loan Calculator
Calculate loan payments, total interest, and view amortization schedule
Loan Details
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Loan Summary
Enter loan details to see payment summary
Amortization Schedule
Enter loan details to see amortization schedule
About This Loan Calculator
This loan calculator uses the standard amortization formula to calculate monthly payments for a fixed-rate loan. It also generates a detailed amortization schedule showing how each payment is split between principal and interest, and how the loan balance decreases over time.
Formula Used
Monthly Payment = P * (r * (1+r)^n) / ((1+r)^n - 1)
Where:
P = Principal (loan amount)
r = Monthly interest rate (annual rate / 12)
n = Loan term in months
Assumptions
- Fixed interest rate for the entire loan term
- Regular payments made on time
- No additional payments or prepayments
- No fees or other costs included