Finance Calculators
Loan Calculator
Car loan, personal loan, student loan — the math is the same. Enter the amount, rate, and term to see your monthly payment and the true total cost, so you can c
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How to use this calculator
- Enter the loan amount.
- Enter the annual interest rate (APR).
- Enter the term in years.
- See the monthly payment, total interest, and total cost.
The formula
Monthly payment = P × r(1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r the monthly rate, n the number of payments.
Worked example
A $25,000 car loan at 8% APR for 5 years: monthly payment ≈ $506.91, total interest ≈ $5,414.60.
About this tool
Car loan, personal loan, student loan — the math is the same. Enter the amount, rate, and term to see your monthly payment and the true total cost, so you can compare offers with clear eyes.
Frequently asked questions
What affects my payment most?
Term length, then rate. Doubling the term roughly halves the payment but can triple total interest — always compare total cost, not just the monthly figure.
Does paying extra each month help?
Yes for most loans — extra payments cut principal directly, which reduces total interest substantially. Check your loan has no prepayment penalty first.
What is APR?
Annual Percentage Rate — the yearly cost of borrowing including the interest rate plus most fees, expressed as a single number for comparison.
Does it include fees and insurance?
No — principal and interest only. Origination fees, insurance, and taxes are separate.