Free online Loan Calculator perform calculations accurately.
The free online Loan Calculator will simplify financial planning or health tracking.
The free online Loan Calculator will simplify financial planning or health tracking.
Amortization Schedule
Calculate loan details to view the amortization schedule.
How to Use the Loan Calculator
- 1
Enter the total amount you wish to borrow into the "Loan Amount" field.
- 2
Input the Annual Interest Rate (APR) for the loan in the designated field (e.g., 5 for 5%).
- 3
Specify the duration of the loan in years in the "Loan Term" field (e.g., 30 for a 30-year mortgage).
- 4
Click the "Calculate" button.
- 5
The calculator will display the estimated Monthly Payment, Total Interest paid over the life of the loan, and the Total Payment amount.
- 6
A detailed Amortization Schedule will appear, showing the breakdown of principal and interest for each payment period and the remaining balance.
Understanding the Results
- 1
Monthly Payment: The fixed amount you will pay each month.
- 2
Total Interest: The total cost of borrowing the money, excluding the principal.
- 3
Total Payment: The sum of the principal loan amount and the total interest paid.
- 4
Amortization Schedule: Shows how each payment reduces the principal balance and covers interest charges over time. Useful for tracking loan payoff progress.