Loan and financing payment calculator
Estimate the monthly payment and total interest for a fixed-rate installment loan using the price, APR and number of months.
Simple calculator. We may merge overlapping tools later; this page stays online with its image. Uses the principal, APR and term you enter. How we research · How links work
The short answer
$1200 at 12% APR over 12 months is about $106.62 per month, about $79 in interest (total ~$1279).
Your loan
Monthly payment
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Examples on $1,200
| APR | Months | About monthly | About interest |
|---|---|---|---|
| 0% | 12 | $100 | $0 |
| 12% | 12 | ~$107 | ~$79 |
| 24% | 24 | ~$64 | ~$330 |
Before you sign
Compare the total with paying cash or a shorter term. Small APR gaps add up on longer loans.
Common questions
Is this a bank APR quote?
No. It is the standard amortizing payment formula with the rate and term you type. Lenders may add fees that change the real cost.
What about 0% store financing?
Set APR to 0 to see pure principal ÷ months. Read deferred-interest rules; missing a payment can apply interest retroactively on some offers.
Can I model a car or phone loan?
Yes for a rough monthly figure. Add any origination fee into the principal if you want it in the total.