Payment by loan size
Set the amount, the term and the APR. The rings show each year of the loan; the table shows what each year repays and what it costs.
- Monthly payment
- $346.65
- Total interest
- $2,480
- Total repaid
- $12,480
Magenta arc: the share of each year's payments that goes to interest. Ring width: the principal you repay that year.
| Year | Principal repaid | Interest paid | Balance at year end |
|---|---|---|---|
| 1 | $2,851 | $1,309 | $7,149 |
| 2 | $3,309 | $851 | $3,841 |
| 3 | $3,841 | $319 | $0 |
Send lenders this amount
Tell us how much, for how long and what for. Lendarbor passes your request to lenders and loan brokers who may make you an offer; you decide whether any offer fits.
- 1 The amount, the term and the purpose.
- 2 Your name, phone and email, and your consent to be contacted.
- 3 A lender or loan broker may contact you with an offer, sometimes for a different amount or term. Nothing is decided until you sign.
You pay Lendarbor nothing. The lenders and loan brokers who contact you set their own rates, fees and loan sizes. How we make money.
How the payment is worked out
The calculator uses the standard formula for a fixed-rate loan with equal monthly payments: payment = P × r ÷ (1 − (1 + r)−n), where P is the amount, r is the APR divided by 12 and n is the number of months. Each month, interest is the balance times r, and the rest of the payment reduces the balance.
Example: $10,000 at 15% APR over 36 months is $346.65 a month. Over three years you repay $12,480, of which $2,480 is interest. In the first year $1,309 of your payments goes to interest; in the third, only $319.
What the rings show
Each ring is one year of the loan, from the heart outward. A ring's width is the principal you repay that year, so later rings are wider. The magenta arc on each ring is that year's interest as a share of that year's payments: long arcs early, short arcs late.
What it leaves out
- Fees. If the lender deducts an origination fee, use the APR it quotes (which counts the fee) or the amount to request calculator.
- Rounding. Lenders round each payment to the cent and adjust the last one, which moves totals by a few cents.
- Variable rates, late fees and optional add-ons such as credit insurance.