What does this calculator calculate?
This calculator estimates equal monthly principal-and-interest payments for a fixed-rate amortizing loan. It separately shows principal, total interest and total repayment.
Worked examples
These examples use fixed sample inputs, separately from your current calculation. Displayed numbers are rounded.
South Korea units
- Loan amount
- 100000000 KRW
- Annual interest rate
- 4.5 %
- Loan term
- 120 months
- Monthly payment
- 1,036,384 KRW
US units
- Loan amount
- 100000 USD
- Annual interest rate
- 4.5 %
- Loan term
- 120 months
- Monthly payment
- 1,036.38 USD
Frequently asked questions
How is a 0% loan calculated?
Divide principal by the number of months. A principal of 12,000 repaid over 12 months gives a monthly payment of 1,000.
Will this match my lender’s payment?
It assumes a fixed rate and end-of-month payments. Fees, tax, insurance, variable rates, day-count rules and final-payment rounding can change actual payments.
Method and references
r is the monthly rate; n is the number of months. Fixed rate, end-of-month payments. Excludes fees, taxes and insurance.
Calculation methods, precision and data storage
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