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Frequently asked questions
Everything people usually ask about tip & loan calculator, accuracy, and how this site works.
Does the loan calculator include taxes, fees, or insurance?
No, it sticks to the pure principal-and-interest figure from the standard amortization formula. Taxes, insurance, and any lender-specific fees are left out since they vary by product.
How is the monthly loan payment formula derived?
It is the standard fixed-rate amortization formula, the same one used to spread principal and interest evenly across every payment so the balance reaches exactly zero at the end of the term.
What if I split a bill unevenly?
This calculator assumes an equal split. For an uneven split, apply the tip to the whole bill first, then divide each person's share of the pre-tip bill by hand using the total tip percentage.
Is this financial advice?
No. This tool performs a mathematical calculation only and is provided for general informational purposes, not as financial or lending advice.
Can I use decimals for the interest rate?
Yes, the rate field accepts decimals such as 6.5 or 4.25, which matches how most lenders quote annual percentage rates.
Does anything I type get uploaded or logged?
No. The math happens entirely on your own device, in your browser, and nothing you enter is sent anywhere.
Who is behind this site?
A small, independent team working out of Lexington, KY, as described on the About page.
Who maintains this site?
A small independent team based in Lexington, KY. See the About page for more.
Is my data sent to a server or stored anywhere?
No. Every calculation runs locally in your browser using JavaScript. Nothing you type is transmitted, logged, or saved.
Still have a question?
Send it through the contact page whenever suits you, and we will follow up.