$12,000 at 9.5% for 4 years
- Total paid
- $14,470.93
- Total interest
- $2,470.93
- Payments
- 48 months
Loan Calculator
Use this free loan calculator to estimate a fixed monthly payment, total paid, and total interest from loan amount, annual rate, and term.
Formula steps Estimate limits shown Examples included Private history
Formula steps
- Convert annual rate 9.5% to monthly rate 0.7916666667%.
- Use 48 monthly payments across 4 years.
- Apply the fixed-payment amortization formula to estimate the monthly payment.
- Total interest equals total paid minus principal.
How to use the loan calculator
- Enter the requested dollar amounts, rates, terms, tax settings, or contribution details.
- Use rates as percentages, such as 6.5 for 6.5%, and check whether a field asks for a monthly or annual amount.
- Press the calculate button to see the answer, supporting metrics, and formula steps.
- Use the result as a planning estimate only, then copy it if the assumptions look right.
Common uses
Estimate payments for personal loans, student loans, or other fixed-payment debt.
Compare different loan terms before choosing a repayment plan.
See the total interest cost behind a monthly payment.
Use the result as a baseline for the amortization calculator.
Examples
Monthly payment and total interest
Payment comparison estimate
Principal divided by months
Frequently asked questions
Quick answers about formulas, rates, payment assumptions, estimate limits, examples, and private in-browser history.
What can I use the Loan Calculator for?
Use it for quick planning, comparison, and what-if estimates before you check exact numbers with a lender, tax professional, payroll provider, or financial adviser.
How does the Loan Calculator calculate the result?
The calculator uses the standard amortized loan payment formula: payment equals principal times monthly rate times growth factor divided by growth factor minus one.
Is this financial, tax, or legal advice?
This calculator gives an educational estimate only. It does not include every fee, lender rule, tax rule, local rate, credit, penalty, or personal financial detail.
Are my finance inputs private?
Yes. The calculator runs in your browser tab. Recent answers stay only on the page while you use it and are not sent to a server.