Loan Payment Calculator
Calculate monthly loan payments and total interest
About Loan Payments
Loan payment calculators help you understand the monthly payment amount, total amount paid over the life of the loan, and total interest paid. This is essential for budgeting, comparing loan options, and making informed financial decisions.
Formula
M = P × [r(1 + r)^n] / [(1 + r)^n - 1]
Where: M = Monthly payment, P = Principal, r = Monthly interest rate, n = Number of payments
Common Use Cases
- Mortgage payment calculations
- Auto loan planning
- Personal loan comparisons
- Student loan planning
- Budget planning and affordability