Professional financial planning tools to help you make informed decisions about loans, mortgages, investments, and retirement.
Loan Details
Loan Summary
Monthly Payment
$478.07
Total Interest
$3,684.23
Total Payment
$28,684.23
Payoff Date
May 2028
Mortgage Details
Mortgage Summary
Monthly Payment
$1,422.86
Total Interest
$212,230.15
Total Payment
$512,230.15
Payoff Date
May 2053
Loan Amortization
Understand how your payments are split between principal and interest over the life of your loan.
Financial Planning
Plan your financial future with our investment and retirement calculators.
Visual Analytics
Interactive charts help you visualize your financial data and make better decisions.
Frequently Asked Questions
The monthly payment is calculated using the formula for an amortizing loan: P = [r * PV] / [1 – (1 + r)^-n], where P is the monthly payment, r is the monthly interest rate, PV is the present value (loan amount), and n is the number of payments.
Principal is the original amount of money you borrowed. Interest is the cost of borrowing that money, calculated as a percentage of the principal. In the early years of a loan, a larger portion of your payment goes toward interest.
You can pay off your loan faster by making extra payments toward the principal, making bi-weekly payments instead of monthly, or refinancing to a loan with a shorter term or lower interest rate.