Loan calculator
Same idea as a mortgage, usually for a smaller amount and fewer years. Type what you borrowed, the rate, and the term. You get the monthly payment and the interest you’d pay over the life of the loan.
Switches the symbol. The number you typed stays put.
$
%
Result
Monthly payment
$431.03
Total interest
$2,689.44
Here’s one
$18,000 at 7% for 4 years
Borrow $18,000 at 7% for 4 years and the payment is $431.03 a month. That’s the loan itself. Fees aren’t added on.
How it works
We spread the amount over every month of the term and add the interest as we go. The payment stays the same each month.
Good for
A car, a personal loan, or any “fixed rate, pay it back monthly” offer.
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Just the math
Handy for a quick number. It isn’t tax, money, or medical advice.