Paycheck calculator › Loan calculator
Loan calculator: monthly payment and total interest (2026)
Monthly payment, total interest and a year-by-year amortization for any fixed-rate loan — personal loans, student loans, debt consolidation. A $20,000 loan at 12% over 5 years costs $444.89 a month and $6,693 in interest.
Your numbers
Result
Monthly payment
Total repaid
Total interest
Payments
| Year | Principal | Interest | Balance |
|---|
Payment by loan amount
Related
Frequently asked
How is the payment calculated?
Standard amortization: payment = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1) with r the monthly rate and n the number of months. Early payments are mostly interest; the table shows the split each year.
APR vs interest rate?
APR includes origination fees spread over the term. Use APR here for a like-for-like comparison between lenders.