Calculate your monthly loan payment and total interest paid over the life of your loan. Enter the loan amount, annual interest rate, and loan term in months.
Enter Your Measurements
Results
Monthly Payment
477.53
$
Total Interest
3,651.74
$
Total Amount Paid
28,651.74
$
Formula
How to Use This Calculator
How to Use
- 1
Enter the total loan amount borrowed.
- 2
Enter the annual interest rate (APR).
- 3
Enter the loan term in months (60 months = 5 years).
- 4
Your monthly payment and total interest are calculated instantly.
Frequently Asked Questions
Frequently Asked Questions
What is APR?
What is the difference between a 36-month and 60-month auto loan?
Can I pay off my loan early?
In-Depth Guides
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About This Calculator
This calculator uses the formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where M = monthly payment, P = loan amount, r = monthly rate, n = number of months. All calculations follow industry-standard methods. Results are estimates — always verify with a licensed professional for structural or code-compliant work.
Built and maintained by the CalcSmart team. Last updated March 2026.
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