Loan calculator
Enter your loan amount, rate and term to see your monthly payment and exactly how much goes to interest vs. principal each year.
Monthly payment
$311.38
Total paid
$18,682.52
Total interest
$3,682.52
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Balance over time
$05 yr
| Year | Start balance | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|---|
| 1 | $15,000.00 | $2,487.45 | $1,249.05 | $12,512.55 |
| 2 | $12,512.55 | $2,720.79 | $1,015.71 | $9,791.76 |
| 3 | $9,791.76 | $2,976.02 | $760.48 | $6,815.74 |
| 4 | $6,815.74 | $3,255.19 | $481.31 | $3,560.55 |
| 5 | $3,560.55 | $3,560.55 | $175.95 | $0.00 |
Your analysis
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How this is calculated
This uses a standard fixed-rate installment loan (the same math behind personal loans, auto loans and mortgages): the payment stays the same every month, but the split between interest and principal shifts over time — early payments are mostly interest, later ones are mostly principal.
This is an educational estimate, not financial advice.