Loan Payment Calculator
Estimate your monthly payment, total interest, and total cost for any loan.
Estimated Monthly Payment:
$489.15How the Loan Calculator Works
This tool uses the standard amortization formula to calculate the fixed monthly payment (M) required to pay off a loan principal (P) over a term of (n) months at a fixed monthly interest rate (r).
Formula:
M = P * [ r(1 + r)^n ] / [ (1 + r)^n – 1 ]