Work out what a loan will actually cost you each month. Enter the amount you are borrowing, the annual interest rate (APR) your lender quoted, and the term in years. Tap a preset to load a typical car, home, personal or student loan and then adjust the numbers. The result shows the monthly payment, the total you will pay over the full term, and how much of that is interest. Figures assume a fixed rate and equal monthly payments. Fees, insurance, property tax and early payoff are not included, so treat this as an estimate.
How it works: Monthly payment = P × r ÷ (1 − (1 + r)−n), where P is the loan amount, r is the APR ÷ 12 (as a decimal) and n is the number of monthly payments. At 0% the payment is simply P ÷ n. Total paid is the monthly payment × n, so the real final payment may be a few cents different. This is not financial advice — always check the lender’s own disclosure before signing.