Loan Calculator
Calculate monthly loan payments, total interest, and payoff schedule for any loan amount and term.
How It Works
The monthly payment is calculated using the amortization formula:
M = P × [r(1+r)^n] / [(1+r)^n - 1]
- M = Monthly payment
- P = Principal loan amount
- r = Monthly interest rate (annual rate / 12)
- n = Total number of payments
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