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Loan Calculator — Monthly Payment & Total Interest

Calculate your monthly loan payment, total interest paid, and amortization schedule. Works for mortgages, car loans, student loans, and personal loans.

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How to use Loan Calculator — Monthly Payment & Total Interest

  1. Enter loan amount
  2. Enter annual interest rate
  3. Enter loan term in years
  4. View monthly payment and total interest

Frequently Asked Questions

What is the loan payment formula?
Monthly payment = P × [r(1+r)^n] / [(1+r)^n - 1], where P = principal, r = monthly rate, n = number of payments.
Can I calculate mortgage payments?
Yes. Enter loan amount, interest rate, and term to get mortgage payment.
Does it show total interest paid?
Yes. The calculator shows total payment and total interest over the loan term.

Examples

  • Ex 1$200,000 mortgage at 6.5% for 30 years → Monthly payment: $1,264, Total interest: $255,000

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