A Loan Calculator is a tool that helps individuals estimate their monthly loan payments based on the loan amount, interest rate, and loan term. By inputting these variables, users can quickly see how much they will need to pay each month, making it easier to budget for their financial commitments. These calculators are commonly used for various types of loans, including mortgages, auto loans, and personal loans. They can also provide insights into the total interest paid over the life of the loan, helping borrowers make informed decisions about their financing options.