Loan Amount – The total amount you plan to borrow (e.g., $200,000).
Annual Interest Rate – The yearly interest rate charged by the lender (e.g., 5.5%).
Loan Term – The number of years you have to repay the loan (e.g., 30 years).
What you get – Monthly payment (principal + interest), total payment over the full term, and total interest paid.
Formula used: Standard amortizing loan formula (equal monthly payments).