Loan payment calculator
What a loan really costs — not just the monthly payment a salesperson quotes. Works for car loans, personal loans, student loans, and mortgages.
Monthly payment
$396.02
Total interest
$3,761
Total paid
$23,761
Where every dollar goes
Principal
Interest $3,761
Amortization schedule (yearly)
| Year | Principal paid | Interest paid | Remaining |
|---|---|---|---|
| 1 | $3,462 | $1,290 | $16,538 |
| 2 | $3,712 | $1,040 | $12,826 |
| 3 | $3,981 | $772 | $8,845 |
| 4 | $4,268 | $484 | $4,577 |
| 5 | $4,577 | $175 | $0 |
Notice how early years are interest-heavy: that's amortization. The lesson on interest & APR walks through exactly why.