Loan Calculator
Calculate your monthly payments and total interest.
How is it calculated?
This calculator uses the standard amortization formula to determine your monthly payments. It takes into account the principal loan amount, the annual interest rate, and the loan term.
Key Terms
- Principal: The amount of money you borrow.
- Interest Rate: The cost of borrowing money, expressed as a percentage.
- Term: The length of time you have to repay the loan.