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Calculate the Monthly Payment and the Interest on a Term Loan

Monthly Payment and the Interest on a Term Loan This calculator helps you visualize the monthly payment and the interests paid on mortgages, financed vehicles, personal loans or any other type of term loans. Fill in the appropriate fields with the amount borrowed, the nominal interest rate and the length of the term.

 

Please change the suggested values with your own in the blue text boxes.

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This chart #1 shows the evolution throughout the whole term of the amount in capital and interest included in the monthly payment.

Evolution of Capital and Interest Included in the Monthly Payment

 

This chart #2 for its part indicates the evolution throughout the term of the cumulative payments made in capital and in interest, as well as the balance left to pay on the loan.

Evolution of Cumulative Payment Made in Capital and Interest

We notice that the borrower pays the majority of the interests at the beginning of the term and the balance only goes down with the capital that has been paid. That is why the balance is slow to drop at the beginning of the loan.

 

Analysis of a Month

The following form isolates a chosen period in time and presents the situation of the loan at its point of reimbursement. It indicates the amount of capital and interest included in the monthly payment for the chosen month. It also adds up these cumulative amounts at that period and shows what is left to be paid on the loan.

  Capital Interest Total
Payments $ $ $
Cumulative paid $ $ $
Balance left to pay $ $ $
Total of the loan $ $ $

Complete Analysis

For a complete view, here are all the numbers for every months of the loan:

Month Initial loan Interest Capital Balance Cumulative
interest		 Cumulative
capital
 
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Numbers in our calculators are rounded to two decimals.
The same calculations made in an Excel spreadsheet may differ slightly.

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