Calculator

Loan Payment Calculator

Calculate loan payments, total interest, and total cost for different loan terms.

Loan Details

Payment Summary

Payment Amount

$1,060.38

Per month

Total Payments

288

Total Amount Repaid

$305,389.98

Total Interest

$205,389.98

Tips for Lower Payments

  • Longer Terms: Extending loan term reduces monthly payments but increases total interest paid.
  • Lower Rates: Improve credit score or shop around for better rates. Even 1-2% lower can save thousands.
  • Smaller Amounts: Borrow only what you need to minimize payments and interest costs.

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