Home › Interest & Loans › Loan Payment CalculatorMonthly Loan Payment Calculator Calculate the monthly payment and total interest of an amortized loan — auto, personal or student loans.
Formula M = P × r × (1+r)^n / ((1+r)^n − 1) — r: monthly rate (annual/12), n: number of monthly payments
Examples Input Result $20,000, 6.5%, 5 yrs $391.32/mo · $3,479.20 interest $300,000, 5%, 30 yrs $1,610.46/mo $10,000, 0%, 2 yrs $416.67/mo
Frequently Asked Questions How is a monthly loan payment calculated? Using the standard amortization formula with the monthly interest rate and total number of payments.
Does this include taxes and insurance? No. This shows principal and interest only; add taxes, insurance and fees separately.
How can I pay less interest overall? Shorter terms, lower rates or extra principal payments all reduce total interest — compare a few scenarios above.
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Disclaimer: This calculator is for informational and educational purposes only and does not constitute financial, investment, tax or legal advice. Results are estimates — actual returns, rates and terms vary. Consult a qualified financial professional before making financial decisions.