Loan Calculator
Calculate loan payments and total interest.
How to Calculate
M = P[r(1+r)^n] / [(1+r)^n - 1]
M is monthly payment, P is principal, r is monthly interest rate, n is total number of payments.
Worked Example
Loan: £200,000, Rate: 5% annual, Term: 25 years → Monthly payment: £1,169.35. Total paid: £350,805. Total interest: £150,805.