Loan Calculator
Calculate monthly payments, total interest, and amortization
Results
Monthly Payment:
$0
Total Interest:
$0
Total Amount Paid:
$0
How to Use the Loan Calculator
Tool Overview
This loan calculator helps you understand the financial implications of a loan. It calculates your monthly payments, total interest paid over the life of the loan, and the total amount you'll repay.
Step-by-Step Instructions
- Enter the total loan amount you're considering
- Input the annual interest rate offered by the lender
- Specify the loan term in years
- Click "Calculate" to see the results
Input Explanation
- Loan Amount: The total amount of money you're borrowing
- Annual Interest Rate: The annual percentage rate (APR) charged by the lender
- Loan Term: The length of time you have to repay the loan (in years)
Understanding Results
The calculator displays three key metrics:
- Monthly Payment: The amount you'll pay each month
- Total Interest: The total interest you'll pay over the loan term
- Total Amount Paid: The sum of principal and interest