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Loan Calculator
Equal payment and equal principal repayment schedules
loanrepaymentequal paymentequal principal
📖 How to Use
- Enter the loan amount
- Enter the annual interest rate
- Enter the loan term in years
- Choose repayment type (equal payment or equal principal)
- Click Calculate to see monthly payment, total interest, and total payment
📐 Formula
Equal payment: M = P×r×(1+r)^n / ((1+r)^n − 1) Equal principal: M = P/n + remaining×r Where P=principal, r=monthly rate, n=months
❓ FAQ
Which is better, equal payment or equal principal?▾
Equal payment has a fixed monthly amount; equal principal has higher early payments but less total interest.
Is early repayment worthwhile?▾
Usually yes, especially early in the loan term when interest makes up a larger share of payments.
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About Loan Calculator
This tool is completely free, no registration required. Works directly in your browser. Supports both PC and mobile devices.
Loan Calculator is a free online tool that works on both PC and mobile. No registration or download required — just open in your browser. Results are accurate and reliable for everyday use and professional reference.