Loan Guides•5 min read
Loan Calculator Explained Simply
Learn how to use our loan tools to find your monthly payment and total interest costs effectively.
Numbers don't have to be scary. We show you how to master our loan calculator in under 5 minutes.
Entering the Basics
Start with your loan amount and interest rate. Make sure to use the annual interest rate, not monthly.
Why is the total interest so high?
Interest compounds over the entire term. Longer loans inevitably cost more in total interest.