Loan Calculator

Calculate monthly payments, total interest, and view detailed amortization schedules

📋 Loan Details

Loan Type

💵 Loan Amount ($)

📊 Interest Rate (% per year)

⏱️ Loan Term (years)

⚡ Quick Presets

💳 MONTHLY PAYMENT

$0.00

per month for 5 years

💰 Total Payment

$0.00

📈 Total Interest

$0.00

💵 Principal

$15,000.00

📊 Payment Breakdown

First Payment Split

Interest

Principal

🔴 $0.00🟢 $0.00

Last Payment Split

Interest

Principal

🔴 $0.00🟢 $0.00

Notice how you pay more interest upfront, more principal later

💡 Understanding Your Loan

📊 How It's Calculated

Your monthly payment is calculated using the standard amortization formula. This ensures equal payments throughout the loan term, with the split between principal and interest changing over time.

🎯 Principal vs Interest

Early payments are mostly interest. As you pay down the loan, more of each payment goes toward principal. This is called amortization - front-loaded interest is how lenders make money.

💰 Saving on Interest

Making extra principal payments early can save thousands in interest. Even small additional payments significantly reduce your total interest and shorten your loan term.