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Calculate monthly loan or mortgage payments, total interest paid, and view the full amortization schedule. Enter principal, interest rate, and loan term.
Monthly payment
$1,264.14
Total payment
$455,088.98
Total interest
$255,088.98
127.5% of principal
Payment breakdown
Amortization Schedule
A fixed-rate amortizing loan divides each payment between interest and principal. Monthly payment is calculated from principal P, monthly rate r, and number of payments n:
M = P × r(1 + r)^n / ((1 + r)^n − 1)
For a zero-interest loan, payment is simply P / n. The schedule shows how interest is usually larger at the beginning, while principal reduction grows as the outstanding balance falls.
| Value | Meaning |
|---|---|
| Monthly payment | Principal plus interest due each month |
| Total payment | Monthly payment multiplied by term |
| Total interest | Total payment minus original principal |
Use this calculator for mortgages, auto loans, student loans, and personal loans. Taxes, insurance, fees, extra payments, variable rates, and lender rounding can change real statements, so compare results with official disclosures.
All calculations run in the browser. The schedule displays the first 360 months for long terms.
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