Calculate monthly payments and total repayments by entering loan principal, annual interest rate, and loan term.
Monthly Payment: 0
Total Interest: 0
Total Amount: 0
The loan calculator calculates the monthly payment, total repayment,
and total interest based on the equal principal and interest
repayment method. The formulas are as follows:
Monthly Interest Rate (i) = Annual Interest Rate / 12 /
100
Total Number of Payments (n) = Loan Term (Years) × 12
Monthly Payment (M) = Principal × [ i × (1 + i)n ] / [
(1 + i)n – 1 ]
Total Repayment = Monthly Payment × Total Number of
Payments
Total Interest = Total Repayment - Principal