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Calculate monthly payment, interest, and total cost of a loan.
A free online loan and installment calculator — enter the loan amount, annual rate, and term to see the monthly payment, total interest, and total cost. Works for mortgages, car loans, and personal loans.
Enter the loan amount, annual interest rate, and term (months) to get the monthly payment, total interest, and total cost.
Payment = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where r = monthly rate and n = number of payments.
Enter the annual rate — it's converted to a monthly rate automatically.
Yes — it uses the standard fixed-payment amortization (reducing balance) method.