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Loan Amortization Calculator

Calculate fixed loan payments, total repayment and interest.

InputsChange a value to recalculate instantly
ResultUpdates as you type
Monthly payment$483.32
Total paid$28,999.2
Total interest$3,999.2
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FORMULA & STEPSLoan Amortization Calculator — Mathematical Derivation & Steps
3 StepsSequential Calculation Breakdown
1
Periodic rate and periods
Convert the annual rate to a monthly rate and the term to monthly periods.
2
Payment
Solve the fixed monthly payment.
3
Interest cost
Total repayment minus original principal.
λ DooMathWork with this calculation
Local · deterministic · optional
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Quick mathNatural-language-style shortcuts for deterministic arithmetic.
Calculator guide

How to use the Loan Amortization Calculator

Calculate fixed loan payments, total repayment and interest.

01Set inputsChoose values, units and assumptions.
02Apply the modelUse the stated mathematical relationship.
03Read the resultCheck the output against the assumptions before using it.
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What this calculator does

Calculate fixed loan payments, total repayment and interest.

functions

Formula & method

The result is calculated from the inputs and assumptions shown in the calculator.

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Assumptions & notes

Review the inputs, units and assumptions before using the result for a real decision.