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You are here: Financial Calculators > Loans > Calculate the Monthly Payment and the Interest on a Term Loan

Calculate the Monthly Payment and the Interest on a Term Loan

This calculator helps you visualize the monthly payment and the interest paid on a mortgage, on a financed vehicle, personal loan or any other type of term loan. 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 amounts in the blue text boxes.

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In the chart below, you can see the evolution (throughout its whole term) of the capital and interest of your monthly payment.

Evolution of Capital and Interest Included in the Monthly Payment

 

On this 2nd chart, you can see the evolution (throughout its whole term) of the cumulative payments disbursed, both on the capital and interest, as well as the balance left to pay on the loan.

Evolution of Cumulative Payments Made in Capital and Interest

As you can see, the borrower pays the majority of the interest at the beginning of the term, and the balance only starts going down when you make a capital payment. That is why the balance always drops slowly at the beginning of the loan.

 

Analysis of a Single Monthly Payment (Term Loan)

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 the cumulative amounts due, at that period in time, and shows what is left to be paid on the loan.

Mobile users: you can scroll the table horizontally
  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 month of the loan:

Mobile users: you can scroll the table horizontally
Month Initial loan Interest Capital Balance Cumulative
interest
Cumulative
capital
 
 
 
Numbers in our calculators are rounded to two decimals.
The same calculations made in an Excel spreadsheet may differ slightly.

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