Loan Payment Calculator
About Loan Payment Calculator
Use this calculator to estimate the fixed monthly payment for an amortized loan from the loan amount, annual interest rate, and term. It also shows the total amount paid and the interest portion.
How to Use
Use this calculator to estimate the fixed monthly payment for an amortized loan from the loan amount, annual interest rate, and term. It also shows the total amount paid and the interest portion.
- Open the calculator : Use Loan Payment Calculator from the Finance category.
- Check the inputs : Review the required values and any optional settings.
- Read the formula : Use the formula and notes below to understand how the result is produced.
Common Questions
What does the Loan Payment Calculator estimate?
Estimate the monthly payment, total repayment, and total interest for a fixed-rate loan.
What can change the estimate?
This is an estimate, so taxes, fees, payment timing, compounding, and changing returns can move the result.
Inputs
- Loan amount
- Annual rate
- Years
Outputs
- Monthly payment
- Total payment
- Total interest
Formula
Monthly payment = P x r x (1 + r)^n / ((1 + r)^n - 1).