A loan calculator you can read back
Every example was run through Ratio 0.6.1 on . Results are shown with 2 decimals (Settings › Decimals).
Describe the loan the way you'd say it, and Ratio gives you the monthly payment. Add a line for the total, another for the interest. Then change one number and watch the whole sheet follow.
Monthly payment
| loan 200k at 5% for 30 years | 1,073.64 |
| loan 25k at 7.5% for 5 years | 500.95 |
What a mortgage really costs
| payment = loan 200k at 5% for 30 years | 1,073.64 |
| payment * 360 | 386,511.57 |
| prev - 200k | 186,511.57 |
Watch your savings grow
| 10k at 4% for 5 years | 12,166.53 |
| 5000 at 7% for 3 years compounded monthly | 6,164.63 |
The spreadsheet functions you know
The same arguments as Excel or Numbers: rate per period, number of periods, amount.
| pmt(6%/12, 60, 25000) | 483.32 |
| npv(10%, 100, 200, 300) | 481.59 |
| irr(-1000, 300, 400, 500) | 8.9% |
More in the syntax reference.
Ratio runs on Mac, Windows and Linux with the same engine, so every example here gives the same answer on all three.
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Questions
How do I calculate a monthly loan payment on a Mac or PC? In Ratio, type “loan 200k at 5% for 30 years”. The monthly payment (1,073.64) appears beside it. “pmt(5%/12, 360, 200000)” gives the same.
How much interest will I pay in total? Name the payment, multiply by the number of months and subtract the loan: “payment * 360” then “prev - 200k” (186,511.57 for the example above).
Is this financial advice? No. Ratio does the arithmetic; check the terms of a real loan with your lender.