Loan Interest Calculator
Enter principal, interest rate, and loan term to calculate monthly payments and total interest.
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How to Calculate
The Loan Interest Calculator supports three repayment methods:
1. Equal Payment (P&I): Same monthly payment (principal + interest)
2. Equal Principal: Same principal each month + interest on remaining balance
3. Bullet: Pay interest only each month, repay principal at maturity
Formula (Equal Payment):
Monthly = P x r x (1+r)^n / ((1+r)^n - 1)
(P: principal, r: monthly rate, n: months)
Example
FAQ
Which repayment method saves the most interest?
Equal Principal repayment results in less total interest, but higher initial payments. Equal Payment provides consistent monthly amounts for easier budgeting.
How does early repayment affect the loan?
This calculator shows the standard repayment schedule. Early repayment reduces the remaining principal, which lowers total interest paid.
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