How is the monthly payment calculated?
It uses the standard amortization formula: the loan amount, monthly interest rate, and number of months produce a fixed payment that fully repays the loan by the end of the term.
Loan calculator
Loan repayment calculator
See your monthly payment, total interest, and the full cost of a loan — adjust the amount, rate, and term and watch it update instantly.
Monthly payment
$501
Total interest
$5,057
Total paid
$30,057
How the loan calculator works
01
Enter the loan amount, annual interest rate (APR), and term in years.
02
We apply the standard amortization formula to find the fixed monthly payment.
03
See the total interest and total cost so you can compare offers before you borrow.
Loan calculator FAQ
Does this include fees or insurance?
No — it estimates principal and interest only. Add any origination fees, insurance, or taxes separately for the true cost.
Can I track loans in the NOVOX app?
Yes. NOVOX tracks loans and mortgages as liabilities inside your net worth, so your real balances update automatically alongside your assets.
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