fincalculator
Loan Calculator
Use this free Loan Calculator to determine monthly payments and interest costs for any loan. Simple, accurate, and easy to use online.
The Loan Calculator is a versatile tool designed to help you determine the monthly payments and total interest costs for any fixed-rate loan. Whether it's a personal loan, business loan, or general financing, this calculator provides a clear repayment breakdown.
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Fincalculator
INPUT VALUES
Loan Amount20000
Interest Rate (APR)5
Loan Term5
When to Use This Calculator
Use this calculator to:
- Estimate Payments: Find out how much a new loan will cost you each month.
- Compare Terms: See how changing the loan term (e.g., 3 years vs. 5 years) affects both your monthly payment and total total interest paid.
Example Scenario
Example Scenario:
- Loan Amount: $20,000
- Interest Rate: 5%
- Loan Term: 5 Years
Calculations:
- Monthly Payment: ~$377.42.
- Total Repayment: $377.42 × 60 months = $22,645.20.
- Total Interest: $22,645.20 - $20,000 = $2,645.20.