Finance
Loan Calculator
How to use this loan calculator
- Enter the requested values in the calculator.
- Review the result immediately below the fields.
- Use the explanation and example below to check how the result was obtained.
Method and formula
The calculator uses the standard amortizing-loan formula with equal monthly payments. Enter principal, annual interest rate, and term in years.
Worked example
A $20,000 five-year loan at 6% has a monthly payment of about $386.66 before fees. Small differences can result from lender rounding.
What the result does not include
The estimate excludes origination fees, insurance, penalties, variable rates, and taxes. Compare the lender's APR and disclosure documents before making a decision.
Frequently asked questions
Are the calculations saved?
No. The calculation runs in your browser. This site does not receive or store the numbers and dates entered into a calculator.
Why can another calculator show a slightly different result?
Results can differ because of rounding, input units, timing assumptions, or extra fees and variables. Keep full precision until the final step and compare the assumptions used by each source.
Can I use this result for an official decision?
Use it as an educational estimate and a way to check your own arithmetic. For medical, financial, academic, or legal decisions, confirm the result with the relevant professional or institution.