Privacy controls
FinanceFormula-based · Runs in your browser

Loan Calculator

Calculate payment, interest, total cost, and the effect of an optional extra payment.

Scan this calculator
Preparing saved example…

Inputs

Enter the values you know. Optional fields may be left empty.

Local save controls below
Required
$
Required
%
Required
Optional
$

Result

Updates as valid inputs change.

Calculated locally
Scheduled monthly payment
—
Payment with extra
—
Total interest
—
Total paid
—
Payoff time
—
Interest saved
—

Saved locally, explained clearly

Drafts, calculations, scenarios, and workflow progress stay in this browser unless you export them.

Opening local database…

Calculation steps

Follow what happened from the selected formula to the displayed answer.

Show substituted values and intermediate working
Calculate current inputs to see the working.
  1. 1

    Formula selected

    The calculator uses the following formula or method.

    M = P × [r(1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]

  2. 2

    Values entered

    Your values are placed into the calculation.

    Enter values to see what is used in this step.

  3. 3

    Result calculated

    The formula or method produces the following result values.

    Results will appear after a successful calculation.

  4. 4

    Answer formatted

    Displayed values are rounded and formatted using each output’s configured precision.

Scenario comparison

Save working scenarios, then select two or three to compare. Formula versions and inputs remain visible.

No scenarios saved for this calculator yet.

Recent calculations

Successful calculations are retained locally according to your privacy settings.

No local history for this calculator yet.

Data and privacy

How it works

The scheduled payment is the fixed amount needed to pay the loan over the selected term. An optional extra payment is added after that amount.

Input query strings and outputs

Use an input name in this page’s URL as ?name=value, and join additional inputs with &. Portable shared links may instead use the compact ?ac= state parameter.

Input query strings

4
  • ?amount= Loan amount

    Money · Required · Default: 25,000

  • ?annualRate= Interest rate

    Percentage · Required · Default: 7.5

  • ?years= Loan term

    Choice · Required · Default: 5 · Accepted values: 1, 2, 3, 5, 7, 10

  • ?extraPayment= Extra monthly payment

    Money · Optional

Outputs

6
  • monthlyPayment Scheduled monthly payment

    Currency · Primary output

  • paymentWithExtra Payment with extra

    Currency

  • totalInterest Total interest

    Currency

  • totalPayment Total paid

    Currency

  • payoffTime Payoff time

    Text

  • interestSaved Interest saved

    Currency

Zero-interest loans

When the rate is zero, the calculator divides the loan amount by the number of months.

Check your agreement

Real loans may include fees, changing rates, or prepayment rules that are not included here.

Sources
Limitations
  • Estimates use the rates, timing, and assumptions entered. Fees, taxes, lender rules, and future changes are included only where explicitly shown.

Related calculators

Finance

Mortgage Calculator

Estimate principal, interest, taxes, insurance, optional HOA fees, and extra payments.

Open calculator
Finance

Savings Calculator

Estimate savings growth and check an optional savings goal.

Open calculator
Finance

ROI Calculator

Calculate profit, total return, return multiple, and optional annualized return.

Open calculator