WiseCalc

Payment Calculator

Estimate fixed monthly payments and total interest from a loan amount, nominal annual rate and whole-month term.

USD
%
Monthly payment
$500.95
Starting loan balance
$25,000.00
Total interest
$5,056.92
Total of monthly payments
$30,056.92

Repayment breakdown

  • Original loan amount $25,000.00
  • Total interest $5,056.92

Calculation assumptions

All amounts are in USD. The fixed nominal annual interest rate is divided by 12, with equal payments at the end of each month; the first payment is one month after borrowing. This input is not an APR. Totals use unrounded payments; lender rounding and daily interest can differ. No extra payments, taxes, insurance, late fees or variable rates are modeled.

This calculator models principal and interest only. Fees are excluded. The defaults illustrate the math and do not indicate available terms or loan eligibility.

Loan references

CFPB: interest rate and APR

Calculation assumptions

All amounts are in USD. The fixed nominal annual interest rate is divided by 12, with equal payments at the end of each month; the first payment is one month after borrowing. This input is not an APR. Totals use unrounded payments; lender rounding and daily interest can differ. No extra payments, taxes, insurance, late fees or variable rates are modeled.

This calculator models principal and interest only. Fees are excluded. The defaults illustrate the math and do not indicate available terms or loan eligibility.

Loan references

CFPB: https://www.consumerfinance.gov/ask-cfpb/what-is-a-personal-installment-loan-en-2114/

How to use this calculator

  1. Loan amount (USD)
  2. Nominal annual interest rate (%)
  3. Number of monthly payments

Frequently Asked Questions