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Loan calculator (solve for unknown)
What this is
Same loan, two views: solve for payment, or solve for principal.
Toggle: enter principal to get the monthly payment, OR enter a target monthly payment to back out the maximum principal you can carry.
Principal
$30,000
Monthly payment
$608
Total interest
$6,489
Solve-for-payment mode is the standard view. Solve-for-principal is useful when you know what you can afford monthly and want to find your max purchase price.
Disclaimer
Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.