Fixed periodic payments until loan is fully paid off. Common for mortgages, auto loans and personal loans.
A single lump sum payment is made at loan maturity. Common for short-term commercial loans.
Calculate the initial value of a bond based on a predetermined amount to be paid at bond/loan maturity.
A loan calculator helps you determine your monthly payment, total interest, and complete repayment schedule for any type of loan — personal, business, student, or otherwise.
Monthly Payment = P × r(1+r)^n / ((1+r)^n - 1) where P = loan principal, r = monthly interest rate, and n = number of monthly payments.
With each payment, a portion goes toward interest and the remainder reduces the principal. In the early months, most of your payment goes toward interest. Over time, more of each payment goes toward paying down the principal.
Making small additional payments toward the principal can significantly reduce your total interest and loan term. Always check if your loan has a prepayment penalty before making extra payments.