Loan Payment Calculator

Monthly payment and total interest for any fixed-rate loan.

Results

Worked example

Monthly payment$304.15 $15,000 at 8.0% for 5 years

Total interest$3,249

Total paid$18,249

Same loan over 3 years instead$470.05/month total interest $1,922 — saving $1,327

Principal and interest only — car/home loans add insurance, taxes or fees on top.

Judge loans by TOTAL cost, not monthly payment. Longer terms hide cost inside comfort.