Loan Payment Calculator
See your monthly payment, total interest and total cost on any fixed-rate loan.
Inputs
Result
Monthly payment
$500.95
Total interest $5,056.92
Visual breakdown
Monthly
$500.95
Total paid
$30,056.92
Interest
$5,056.92
# Payments
60
Principal · $25,000.0025,000(83%)
Interest · $5,056.925,056.9(17%)
Formula
Monthly payment = P × r × (1+r)n ÷ ((1+r)n − 1), where r = APR/12 and n = months.
Example
$25,000 at 7.5% APR over 5 years (60 payments) = $500.95/month; total paid ≈ $30,057, of which interest ≈ $5,057.
Frequently asked
Does APR include fees?
If you enter an APR that already includes lender fees, results reflect that. The interest rate without fees gives the lower bound.
Are extra payments included?
Not in this version — extra principal payments shorten the term and lower total interest. We'll add them soon.
Why is total interest so high on long loans?
Interest compounds on the remaining balance, which stays high early in the term. Shorter terms or extra payments dramatically reduce it.
Related calculators
Estimates only. Real loans may include fees, escrow and rate changes. Confirm with your lender.