MCPCalc

Personal Loan Calculator

Calculate unsecured personal loan payments including origination fees.

Scratchpad (not saved)

$

Amount you want to borrow

%

Annual percentage rate

Length of the loan

%

Upfront fee deducted from loan proceeds

What This Calculator Does

Estimate installment loan payments and total finance cost from principal, interest rate, and repayment schedule.

It combines Loan Amount, Interest Rate (APR), Loan Term, Origination Fee to estimate Monthly Payment, Amount Received, Origination Fee.

Formula & Method

Core equations: Monthly payment uses the standard amortization formula: M = L \cdot \frac{r(1+r)^n}{(1+r)^n - 1} where L is the loan amount, r is the monthly interest rate, and n is the term in months. Origination fee: F = L \times f\%, so the amount received is L - F. Inputs are applied in base units, then derived metrics are computed from the same equations and rounded for display.

Notation used in the formulas: R = Monthly Payment; x_{1} = Loan Amount; x_{2} = Interest Rate (APR); x_{3} = Loan Term; x_{4} = Origination Fee.

Method summary: inputs are normalized to consistent units, core equations are evaluated, then secondary values are derived and rounded for display.

Use this to compare offers across lenders and term lengths before committing to debt consolidation or large purchases.

Inputs Used

  • Loan Amount: Amount you want to borrow
  • Interest Rate (APR): Annual percentage rate
  • Loan Term: Length of the loan
  • Origination Fee: Upfront fee deducted from loan proceeds

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