Compound Interest Calculator
Explore growth with monthly contributions and a clearly defined compounding schedule.
Money & Planning · FREE TO USE
Loan Calculator
Estimate fixed monthly principal and interest payments and total borrowing cost.
02EXAMPLE RESULT
Monthly payment
599.55
currency units
Total interest115,838.19currency units
Total repayments215,838.19currency units
Number of payments360months
Results update as you type. Calculate adds a snapshot to your history.
How this calculation works
Models a fully amortizing, fixed-rate loan with equal monthly payments made at the end of each month. The entered rate is the nominal annual interest rate, not an APR including fees. Taxes, insurance, fees, variable rates, and extra repayments are excluded.
Monthly payment = P × r ÷ [1 − (1 + r)^(−n)], where r is annual rate ÷ 12 and n is the number of monthly payments.
Your calculation, step by step
- Monthly rate: 6% ÷ 12.
- Repay over 360 equal monthly payments.
- Apply the fixed-rate amortization formula to calculate principal and interest.
A worked example
100,000 borrowed at 6% for 30 years gives a monthly principal-and-interest payment of about 599.55.