Loan Calculator
Worked example result
| Monthly payment | $888.49 |
| Total interest | $661.85 |
| Total repaid | $10,661.85 |
Borrowing $10,000 at 12% for 12 months costs $888.49 per month and $661.85 in interest.
Payment = P · r / (1 − (1+r)^−n), where r = annual rate ÷ 12 and n = number of months · Powered by CalcHub — Loan Calculator