Every month, your debt gets a little smaller
When you make a loan payment, some of it goes to the principle amount borrowed, while the rest covers interest charges. Generally, the breakdown changes with each payment. This calculator helps you figure out your monthly payments, totals up your interest charges, and tracks your progress toward paying off your debt.
Information and calculators provided are tools for your use and are not intended to provide financial, investment, legal, tax or accounting advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.