₹FINANCE
Loan Calculator
Calculate monthly loan payments, total interest and total repayment from a loan amount, interest rate and term.
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Formula
Monthly payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of monthly payments.
Monthly payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of monthly payments.
How it works
1
Enter the loan amount.
2
Enter the annual rate and loan term.
3
Review the monthly payment, total interest and total repayment.
Important notes
This is a fixed-rate, fully amortizing loan model.