Enter a loan amount, interest rate, and term to calculate the monthly payment, total interest, and total cost.
How to Use the Payment Calculator
Enter the loan amount, annual interest rate, and term in years — that's the whole tool. One result, no modes, no schedule.
Sometimes the payment number is genuinely all you need. This calculator skips the schedule and the toggles and just answers: what would this loan cost per month?
M = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ − 1]P is the loan amount, r the monthly interest rate (annual rate ÷ 12), and n the total number of monthly payments. Total Interest and Total Cost sit next to the payment so the full cost of borrowing is visible at a glance, not just the monthly bite.
That makes it a good fit for a quick sanity check — punch in the numbers from a loan estimate or a dealer quote and see whether the payment they quoted actually matches the math.
This is the fast version — for the full year-by-year schedule or a solver that works backward from a target payment, the site's Amortization Calculator and Loan Calculator cover that ground instead.