Loan & Financing Calculator
Enter the amount, monthly interest rate and term to see the fixed monthly payment.
Monthly payment
$528.71
Total interest
$2,689.06
Total paid
$12,689.06
How the fixed payment is calculated
Using the standard amortization formula, PMT = P × i / (1 − (1 + i)^−n), where P is the loan principal, i is the monthly interest rate as a decimal, and n is the number of months.
Frequently asked questions
What repayment system does this use?
This calculates a fixed monthly payment (the Price / French amortization system), where every installment has the same value but the share of interest and principal changes over time.
Does this include fees or insurance?
No, this is a simplified simulation based only on principal, interest rate and term; real loan offers may include fees, insurance or taxes that increase the effective cost.
How do I compare two loan offers?
Run this calculator for each offer with its own rate and term, then compare the total interest paid — the lower total interest is generally the cheaper loan overall.
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