Loan Payment Calculator
How much will my loan payments be?
This is a basic loan calculator. Thinking of getting a loan to buy that $25,000 boat? Enter the loan amount, interest rate, and term of the loan into this calculator and it will show you the monthly payment amount, the total interest you will pay, and the total amount you will pay over the length of the loan so you can see the actual cost of that "$25,000" boat. You can even enter any additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time. You can also display and/or print the amortization schedule for your loan. If you have any accounts receivable loans this calculator can help you understand the business cost of the loans.
TitleA title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
LenderThe name of your potential lender. This field is not required but may help if you have printed out several loan scenarios.
Loan AmountThe amount you plan to borrow.
Interest RateThe annual percentage rate you will pay for this loan.
Length of LoanHow long you will pay on this loan. Also choose whether 'Length of Loan' is years or months.
Additional PrincipalThe additional amount you will pay each month (over the required 'Monthly Payment' amount) to pay down the principal on your loan.
Monthly PaymentPrincipal + Interest + Additional Principal (where applicable) to be paid each month.
Total InterestTotal amount of interest you will pay over 'Length of Loan'.
Total PaidTotal amount of principal + interest you will pay over 'Length of Loan'.
Payoff TimeAmount of time until the loan is paid off.
Number of PaymentsThe number of payments you will make to pay off the loan.
Annual CostThe amount of money you will pay each year for this loan.