Simple Loan Calculator

Loan Amount - The principal of the loan, or the amount borrowed, or current balance.
Rate - The annual interest rate as a percent. This calculator assumes a fixed-rate, compounded monthly.
Term - The length of the loan, or time to pay off, assuming regular monthly payments.
Total Interest - This loan calculator estimates the total amount of interest paid over the term of the loan, assuming no extra payments.
Rounding - The results of this calculator may differ from other calculators, because it does not round each payment to the nearest cent.