Finance
Loan Total Interest
Total interest paid over the loan.
Formula
Formula
Total = M·n − P
Variables
| Symbol | Definition | Type & range | Units | Role |
|---|---|---|---|---|
| P | principal | real number (ℝ) | — | input |
| M | monthly payment | computed result | — | result |
| n | months | computed result | — | result |
Try it yourself
Interactive calculator
Worked examples
Example 1
Givenprincipal = 200000, annual rate (%) = 6, years = 30
Result231676.3781
Example 2
Givenprincipal = 25000, annual rate (%) = 5, years = 5
Result3306.850466