About the Calculadora de Préstamos
Whether you are considering a personal loan for debt consolidation, home improvement, or financing an unexpected expense, understanding your monthly financial commitment is essential. This Loan Calculator computes your exact monthly installment payment, total finance interest, and generates a complete amortization schedule.
How to Use This Calculator
- 1Enter the Principal Loan Amount you wish to borrow.
- 2Enter the Annual Interest Rate (APR) quoted by your bank or lender.
- 3Select or enter the repayment Term in months (e.g. 12, 24, 36, 48, or 60 months).
- 4Review your fixed monthly payment, lifetime interest charges, and the interactive month-by-month amortization table.
Formula & Calculation Methodology
Installment loans are amortized using the standard formula: Monthly Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ - 1], where P is principal, r is the monthly interest rate, and n is total months.
Worked Example: $10,000 Personal Loan at 7.5% Interest Over 36 Months
Scenario: A borrower takes out a $10,000 personal loan at a 7.50% annual interest rate with a 3-year (36-month) repayment term.
Calculate monthly interest rate: 7.5% ÷ 12 ÷ 100
0.00625 per month
Compute monthly payment: $10,000 × [0.00625 × (1.00625)³⁶] ÷ [(1.00625)³⁶ - 1]
$311.06 / month
Compute total payments across 36 months: $311.06 × 36
$11,198.16 total repaid
Compute total interest paid: $11,198.16 - $10,000
$1,198.16 finance charge
Conclusion: The borrower will pay $311.06 each month. Total interest over 3 years is $1,198.16.
Assumptions & Practical Limitations
- Assumes a fixed interest rate and timely payments throughout the entire term. Prepayment penalties or late payment charges are not included.
- Origination fees charged upfront by some online lenders (often 1% to 8% of the loan amount) reduce net cash received and may increase the effective APR.
Frequently Asked Questions
Making additional payments toward the principal balance reduces total accrued interest and shortens the remaining repayment period without altering your regular required monthly payment.