# Loan Calculator

Interest rate

Annual interest rate for this loan. Interest is calculated each period on the current outstanding balance of your loan. The periodic rate is your annual rate divided by the number of periods per year.

Loan amount

Total amount of your loan.

Number of payments

Number of payments for this loan.

Payment

Payment for this loan.

Interest paid

Total amount of interest that will be paid on this loan. This total assumes all payments are made as scheduled, and there are no prepayments of principal.

Total payments

Total all payments for this loan. This includes all interest and principal. This total assumes all payments are made as scheduled, and there are no prepayments of principal.

Payment frequency

Choose how often payments will be made. The options are weekly (52 payments per year), bi-weekly (26 payments per year), semi-monthly (24 payments per year), monthly (12 payments per year), bi-monthly (6 payments per year), quarterly (4 payments per year), and annually (1 payment per year).