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Total Loan Interest Formulas

Below you will find descriptions and details for the 4 formulas that are used to compute the total interest on a loan.

Loan payment amount:
Loan payment amount formula
where PV is the present value of the loan (i.e., the loan amount) and PVIFA is the present value interest factor of an annuity.
Present value interest factor of an annuity:
Present value interest factor of an annuity formula
where R is the periodic interest rate and N is the number of periods.
Total cost of a loan:
Total cost of a loan formula
where PMT is the loan payment amount and N is the number of payments.
Total interest paid on a loan:
Total interest paid on a loan formula
where TC is the total cost of the loan and PV is the present value of the loan (i.e., the amount of the loan).
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