Loan Calculator
Calculate loan payments, total interest, and payoff timeline
Monthly Payment
$501
Principal
$25,000
Total Interest
$5,057
Total Cost
$30,057
Frequently Asked Questions
How are loan payments calculated?▼
Loan payments use the amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P = principal, r = monthly rate, n = total payments.
What factors affect my loan payment?▼
Three main factors: the loan amount (principal), interest rate, and loan term (length). A higher amount or rate increases payments; a longer term lowers monthly payments but increases total interest.
What is the difference between APR and interest rate?▼
Interest rate is the cost of borrowing the principal. APR (Annual Percentage Rate) includes the interest rate plus other charges like origination fees, giving you the true annual cost of the loan.
How to Use Loan Calculator
- 1Open the Loan Calculator tool above - it loads instantly in your browser.
- 2Enter your data or upload your file. Everything is processed locally on your device - nothing is uploaded to any server.
- 3Get your results instantly. Copy, download, or share - completely free with no signup required.
Loan Calculatoris part of BriskTool's collection of free online tools. All tools run entirely in your browser for maximum privacy and speed.