Fixed-rate amortization
Project loan payment calculator
A $50,000 project financed for 10 years at 6.75% APR equals $574.12 per month and $18,894.40 in total interest.
Benchmark rate observed 2026-07-02Calculator version 1.0.0
Monthly payment
$574.12- Amount financed
- $50,000.00
- Total interest
- $18,894.40
- Total paid
- $68,894.40
- Total interest percentage
- 37.79%
Default scenario arithmetic
| Line | Arithmetic | Amount |
|---|---|---|
| Principal | User input | $50,000.00 |
| Monthly payment | 120 fixed payments at 6.75% APR | $574.12 |
| Total paid | $574.12 × 120 | $68,894.40 |
| Total interest | $68,894.40 − $50,000.00 | $18,894.40 |
payment = principal × monthly rate × (1 + monthly rate)^months ÷ ((1 + monthly rate)^months − 1).
Method and sources
The calculator rounds the monthly payment to the nearest cent, multiplies that payment by the number of months, then subtracts principal to show total interest. A lender may calculate the final payment differently by a few cents.
What the result excludes
| Item | Treatment |
|---|---|
| Principal | Included |
| Interest at the entered APR | Included |
| Origination and closing fees | Excluded |
| Variable-rate changes | Excluded |
| Taxes and insurance | Excluded |