Free online calculator
Tip & Loan Calculator
Split a restaurant bill fairly, or work out a monthly loan payment before you sign anything.
What is a tip & loan calculator?
"How much should I tip" and "what will my monthly payment be" sound like two unrelated questions, but both reduce to a short formula that is surprisingly easy to fumble by hand, particularly once a bill needs splitting unevenly or two loan offers need comparing.
The tip side of the tool takes the bill, applies a tip percentage, totals it, and divides evenly among the group. The loan side runs the same amortization math banks use internally, converting a principal, an annual interest rate, and a term in months into a single fixed monthly figure.
How it works
1. Pick a mode
Switch between “Tip & split” for a restaurant bill and “Loan payment” for financing math.
2. Enter your figures
For a tip: the bill, tip percentage, and number of people. For a loan: the amount, annual rate, and term in months.
3. Read three results at once
Each mode shows a small set of related numbers together, so you see the whole picture rather than one isolated figure.
4. Adjust and compare
Change the tip percentage or loan term and watch every number update immediately, which makes comparing options fast.
Worked examples
Both formulas below are the exact ones used by the calculator above, worked through with a fresh set of numbers.
| Calculation | Formula | Result |
|---|---|---|
| $108 bill, 22% tip, split 6 ways | tip = 108 × 22/100; total ÷ 6 | $21.96/person |
| $20991 loan at 5.9% for 60 months | M = P·r(1+r)^n ÷ ((1+r)^n−1) | $404.84/mo |
When to use it
- Deciding how much to tip when the group disagrees on the right percentage.
- Working out how much interest a loan will cost in total over its lifetime.
- Checking that a tip suggested by a payment terminal actually matches the percentage shown.
- Planning ahead for how a longer loan term trades off against a higher total interest cost.
- Splitting a restaurant or bar tab fairly among a group, including the tip.
Built to be trusted
Trust matters more to us than a slick interface, which is why every calculation on QuickWallet is written out on its own page instead of buried in unreadable code. Nothing here is rounded quietly behind the scenes and nothing needs an account.
We run this out of Savannah, GA with a small team that would rather maintain one focused tool carefully than spread thin across a dozen half-finished ones.
