Loan Calculator
Visualize Interest Costs: See exactly how much you’ll pay over the life of the loan.
Monthly Payments
| Payment | Interest | Principal | Balance |
|---|---|---|---|
| 93.22 | 18.75 | 74.47 | 4,925.53 |
| 93.22 | 18.47 | 74.74 | 4,850.79 |
| 93.22 | 18.19 | 75.02 | 4,775.77 |
| 93.22 | 17.91 | 75.31 | 4,700.46 |
| 93.22 | 17.63 | 75.59 | 4,624.87 |
| 93.22 | 17.34 | 75.87 | 4,549.00 |
| 93.22 | 17.06 | 76.16 | 4,472.84 |
| 93.22 | 16.77 | 76.44 | 4,396.40 |
| 93.22 | 16.49 | 76.73 | 4,319.67 |
| 93.22 | 16.20 | 77.02 | 4,242.66 |
| 93.22 | 15.91 | 77.31 | 4,165.35 |
| 93.22 | 15.62 | 77.60 | 4,087.76 |
| 93.22 | 15.33 | 77.89 | 4,009.87 |
| 93.22 | 15.04 | 78.18 | 3,931.69 |
| 93.22 | 14.74 | 78.47 | 3,853.22 |
| 93.22 | 14.45 | 78.77 | 3,774.46 |
| 93.22 | 14.15 | 79.06 | 3,695.39 |
| 93.22 | 13.86 | 79.36 | 3,616.04 |
| 93.22 | 13.56 | 79.65 | 3,536.38 |
| 93.22 | 13.26 | 79.95 | 3,456.43 |
| 93.22 | 12.96 | 80.25 | 3,376.18 |
| 93.22 | 12.66 | 80.55 | 3,295.62 |
| 93.22 | 12.36 | 80.86 | 3,214.76 |
| 93.22 | 12.06 | 81.16 | 3,133.60 |
| 93.22 | 11.75 | 81.46 | 3,052.14 |
| 93.22 | 11.45 | 81.77 | 2,970.37 |
| 93.22 | 11.14 | 82.08 | 2,888.29 |
| 93.22 | 10.83 | 82.38 | 2,805.91 |
| 93.22 | 10.52 | 82.69 | 2,723.22 |
| 93.22 | 10.21 | 83.00 | 2,640.21 |
| 93.22 | 9.90 | 83.31 | 2,556.90 |
| 93.22 | 9.59 | 83.63 | 2,473.27 |
| 93.22 | 9.27 | 83.94 | 2,389.33 |
| 93.22 | 8.96 | 84.26 | 2,305.08 |
| 93.22 | 8.64 | 84.57 | 2,220.51 |
| 93.22 | 8.33 | 84.89 | 2,135.62 |
| 93.22 | 8.01 | 85.21 | 2,050.41 |
| 93.22 | 7.69 | 85.53 | 1,964.89 |
| 93.22 | 7.37 | 85.85 | 1,879.04 |
| 93.22 | 7.05 | 86.17 | 1,792.87 |
| 93.22 | 6.72 | 86.49 | 1,706.38 |
| 93.22 | 6.40 | 86.82 | 1,619.56 |
| 93.22 | 6.07 | 87.14 | 1,532.42 |
| 93.22 | 5.75 | 87.47 | 1,444.95 |
| 93.22 | 5.42 | 87.80 | 1,357.16 |
| 93.22 | 5.09 | 88.13 | 1,269.03 |
| 93.22 | 4.76 | 88.46 | 1,180.57 |
| 93.22 | 4.43 | 88.79 | 1,091.79 |
| 93.22 | 4.09 | 89.12 | 1,002.67 |
| 93.22 | 3.76 | 89.46 | 913.21 |
| 93.22 | 3.42 | 89.79 | 823.42 |
| 93.22 | 3.09 | 90.13 | 733.29 |
| 93.22 | 2.75 | 90.47 | 642.83 |
| 93.22 | 2.41 | 90.80 | 552.02 |
| 93.22 | 2.07 | 91.15 | 460.88 |
| 93.22 | 1.73 | 91.49 | 369.39 |
| 93.22 | 1.39 | 91.83 | 277.56 |
| 93.22 | 1.04 | 92.17 | 185.39 |
| 93.22 | 0.70 | 92.52 | 92.87 |
| 93.22 | 0.35 | 92.87 | 0.00 |
Loan Fundamentals
A comprehensive guide to how borrowing works and how interest is calculated.
A loan is a financial arrangement in which a lender provides money to a borrower, with the understanding that the borrower will repay the amount over time. Beyond just the principal, loans involve terms like repayment periods and schedules that are agreed upon before the funds are issued.
Know the Difference: Interest Rate vs. APR
The Interest Rate is the cost of borrowing the principal. The APR (Annual Percentage Rate) is more accurate because it includes the interest rate plus lender fees and closing costs.
How Interest is Calculated
Simple Interest
Calculated only on the original principal.
Commonly used for short-term personal or auto loans.
Compound Interest
Interest on principal plus accumulated interest.
Typical for credit cards and high-yield savings.
Loan Types Comparison
| Category | Typical Model | Practical Impact |
|---|---|---|
| Auto Loans | Simple | Interest is predictable; early payoff saves money directly. |
| Mortgages | Amortized | Payments are fixed, but you pay mostly interest in the first 10 years. |
| Credit Cards | Compound | Interest grows exponentially if balances are carried forward. |
What is Amortization?
For long-term loans like mortgages, interest is managed via an amortization schedule. In the early stages of the loan, a larger portion of your monthly payment goes toward the interest. As the balance decreases, a larger portion is applied to the principal, accelerating your equity growth.
