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Easy Loan Calculator for Calculating Monthly Payments

Calculator Preferences
Monthly Loan Payment Calculator Sign
Monthly Loan Payment Calculator

This loan calculator will instantly compute the monthly payment amount and interest cost of a loan given the principal amount, the interest rate, and the loan term in number of years. Plus, the calculator also has an optional feature that will calculate how many hours you will need to work in order to pay just the interest costs. The $ecret tab includes The key to getting the greatest emotional return out of the money your earn.

Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Principal:Principal amt:Principal amount:Principal amount to borrow:

Principal amount:

Enter the total amount you are considering taking a loan out for, in numeric characters only (0-9 and decimal point).

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the interest rate expressed as a percentage, but without the percent sign (for 6.5%, enter 6.5).

Years:Loan term years:Loan term in years:Loan term in years:

Loan term in years:

Enter the number of years you plan to take to repay the loan (whole years only, i.e., no decimal points).

RHW:Real wage/hour:Real hourly wage (optional):Real hourly wage (optional):

Real hourly wage (optional):

If you would like the calculator to estimate how many hours you will need to work to pay the interest on the loan, enter your Real Hourly Wage (RHW).

If you don't know your RHW, tap/click the link to RHW calculator (opens in new window), or use the Pocalc (pocket calculator) to divide your net take-home pay by the number of hours you worked for it.

Or, if you don't care how many hours you will need to work, just leave the field blank.

Payment:Monthly pmt:Monthly payment amount:Monthly payment amount:

Monthly payment amount:

This is how much your monthly principal and interest payment will need to be in order to pay off the loan within the entered number of years.

Interest:Interest cost:Total interest cost:Total interest cost:

Total interest cost:

This is how much interest you will pay the lender between the beginning of the loan and the payoff of the loan.

Work hrs:Work hours:Work hrs to pay interest:Work hours to pay interest:

Work hours to pay interest:

If you entered your RHW this is how many hours you will need to allocate to working in order to pay just the interest charges on the loan.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.



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Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.