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).
Type the loan as you'd describe it and Ratio gives the monthly payment. Keep going on the next lines to see the total paid and the interest, then change one number and the whole sheet updates.
Monthly payment
| loan 200k at 5% for 30 years | 1,073.64 |
| loan 25k at 7.5% for 5 years | 500.95 |
Total cost of a mortgage
| payment = loan 200k at 5% for 30 years | 1,073.64 |
| payment * 360 | 386,511.57 |
| prev - 200k | 186,511.57 |
Savings and compound interest
| 10k at 4% for 5 years | 12,166.53 |
| 5000 at 7% for 3 years compounded monthly | 6,164.63 |
Spreadsheet functions
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.
Try Ratio free for 7 days · $9.99 once, updates included
Questions
How do I calculate a monthly loan payment on a Mac? 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.