Loan Calculator

Created by Davide Borchia
Last updated: Jun 28, 2022
This calculation uses well-known equations to find how large a loan is affordable, based on a maximum affordable monthly repayment, nominal interest rate, and payment schedule. It also finds how much is repaid in total over the whole period.
Davide Borchia
Main specifications
Known rate
nominal interest rate
Interest rate
%
Compound frequency
monthly
Loan amount
$
Loan term
yrs
mos
Payment frequency
monthly
Additional fees
Prepaid fee
$
Loaned fee
$
Origination fee
%
Origination fee repayment
from the loan amount
Results
You receive a $9,200 loan after deducting the origination fee of $800.
Your periodic payment is $169.1, and from this, $8.05 covers the additional fees rolled into the loan.
The total interest payment is $1,675.33, and from this, $1,595.55 charged on the loan amount and $79.78 is paid after the additional fees have been rolled into the loan.
The total additional fees with interest charged on them are $1,579.78.
The total payment you need to make is $12,375.33; thus, the total finance charge (total interest plus additional fees) is $3,175.33.
The APR is 10.31%, and the effective APR that accounts for the compounding frequency as well is 10.81%.
Total payment percentage breakdown
Balances
Display in
chart and table
Show balances on
yearly basis
YearOpening balanceYearly principalYearly interestClosing balanceTotal paid
110,426.711,465.88466.718,960.822,229.22
28,883.781,540.88391.717,342.94,258.44
37,261.911,619.71312.885,642.26,287.66
45,557.071,702.58230.013,854.498,316.89
53,7651,789.69142.91,975.3210,346.11
61,881.251,881.2551.34012,375.33
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