See the true cost of any fixed-rate loan
Enter a loan amount, interest rate, and term, and this calculator instantly shows your monthly payment, the total interest you'll pay over the life of the loan, and a full month-by-month amortization schedule.
It works for mortgages, auto loans, student loans, and personal loans — any fixed-rate loan with monthly payments. Try different terms and rates to see how dramatically they change the total interest.
Frequently asked questions
How is the monthly payment calculated?
It uses the standard amortization formula: M = P × r(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments.
What is an amortization schedule?
A month-by-month breakdown showing how each payment splits between interest and principal. Early payments are mostly interest; over time the balance shifts toward principal.
Does this work for mortgages, car loans, and personal loans?
Yes — any fixed-rate loan with regular monthly payments. Enter the amount, annual rate, and term in years. It doesn't model variable rates, fees, taxes, or insurance.
Is my financial information stored anywhere?
No. All calculations run in your browser and nothing is saved or transmitted.