Loan Calculator
Monthly payment, total interest, and principal breakdown for mortgages, auto, and personal loans.
$
$1k$2M
%
0.1%25%
Monthly Payment
$1,995.91
Total interest: $418,527
$718,527 total over 30 years
Principal vs Interest
■ Principal 41.75%■ Interest 58.25%
Loan Amount | $300,000 |
APR | 7.0% |
Term | 30 years (360 months) |
Monthly Payment | $1,995.91 |
Total Principal | $300,000 |
Total Interest 58.25% of total | $418,527 |
Total Cost | $718,527 |
Amortization Formula
Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1], where P = principal, r = monthly rate (APR/12), n = total months. Each payment applies first to interest on the remaining balance, then to principal.
Extra principal payments can dramatically reduce total interest — even $100/month extra on a $300,000 mortgage can save tens of thousands of dollars over the loan life.