Loan Calculator

A 200000 loan at 5% over 360 months costs about 1073.64 per month (186510.4 total interest).

How it works

• Converted the annual rate to a monthly rate by dividing by 12.
• Applied the level-payment (annuity) formula to the principal.
• Multiplied the payment by the number of months for the total paid, and subtracted the principal for the interest.

payment = P·r / (1 − (1+r)^−n) with r = 5/100/12 and n = 360

• Assumes a single fixed rate, equal monthly payments and no fees, insurance or taxes.
• This is an estimate for information only, not a loan offer or financial advice.

Methodology

1. Divide the annual rate by 12 to get the monthly periodic rate r, and take n as the number of monthly payments.
2. Apply the present-value-of-an-annuity formula: payment = P·r / (1 − (1+r)^−n).
3. Multiply the payment by n for the total paid and subtract the principal for the total interest; a 0% rate reduces to principal / n.

Usage

1. Enter the loan principal.
2. Enter the annual interest rate as a percentage.
3. Enter the term in months and read the payment, total paid and total interest.

Examples

These are examples, not current values: they use fixed inputs, while the interactive tool computes live results in your browser.

30-year mortgage

{
  "principal": 200000,
  "annualRatePercent": 5,
  "termMonths": 360
}

Interest-free loan

{
  "principal": 12000,
  "annualRatePercent": 0,
  "termMonths": 24
}

Short personal loan

{
  "principal": 5000,
  "annualRatePercent": 9.5,
  "termMonths": 36
}

Limitations

Stated assumptions

This calculator models a standard fixed-rate amortising loan: one constant annual rate, equal monthly payments and no extra fees or charges. Real loans can include an arrangement fee, insurance, taxes, a variable rate or an introductory period, all of which change the true cost. Treat the result as a starting estimate and compare it with the lender's own repayment schedule.