Loan Payment Calculator
Fill in the values and the answer updates as you type.
How the Loan Payment Calculator works
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the loan amount, r the monthly rate (annual rate ÷ 12), and n the number of monthly payments.
Inputs and results
The Loan Payment Calculator takes 3 inputs and gives 3 results.
What you enter
- Loan amount ($) — starts at 25000.
- Annual interest rate (%) — starts at 7.5.
- Term (years) — starts at 5.
What you get
- Monthly payment
- Total paid
- Total interest
Example: Loan Payment Calculator with the starting values
With loan amount 25000 $, annual interest rate 7.5 % and term 5 years, the calculator returns:
| Monthly payment | $500.95 |
|---|---|
| Total paid | $30,056.92 |
| Total interest | $5,056.92 |
Change any value above and the results update straight away.
Loan Payment Calculator FAQ
How do I use the Loan Payment Calculator?
Enter loan amount, annual interest rate and term in the fields, then read monthly payment, total paid and total interest in the result panel. The answer updates as you type, and you can press Calculate or Enter to refresh it. Use “Copy link” to share your exact numbers with someone else.
What does the Loan Payment Calculator calculate?
Monthly payment, total cost, and interest. It returns monthly payment, total paid and total interest from the 3 values you provide.
What values does the Loan Payment Calculator start with?
It opens with loan amount 25000 $, annual interest rate 7.5 % and term 5 years so you can see a working result straight away. Replace them with your own numbers, or press Reset to return to these starting values.
Is the Loan Payment Calculator free and private?
Yes. It is free, needs no account, and runs in your browser, so nothing you type is sent to or stored on our servers. See the Privacy Policy for details.
Can I rely on the Loan Payment Calculator for financial decisions?
Treat the result as a well-rounded estimate. Real situations often have details a general calculator cannot know, so confirm financial decisions with a qualified professional. See the Disclaimer for more.