Payment Calculator
Solve for a fixed-term payment or estimate how long a chosen payment takes to repay a loan.
Fixed-rate estimate only. Fees and lender-specific APR adjustments are not included.
Loan inputs
Balance and cumulative interest
The chart uses the same payment schedule shown below.
Repayment share
Amortization schedule
| Month | Payment | Interest | Principal | Balance |
|---|
Detailed Breakdown
Fixed term
Enter principal, annual rate, and years. The calculator solves for the scheduled monthly payment, then shows total interest and payoff time.
Fixed payment
Choose a monthly amount to estimate payoff time. If payment does not exceed monthly interest, the balance will not amortize; increase the payment or reduce the rate.
Payment formula
For fixed term, monthly rate i = annual rate / 12 and
n payments,
M = P * i / [1 - (1 + i)-n]. Extra principal
is added to each payment.
Limits
Fixed rate and monthly payments are assumed. Fees, changing rates, tax, insurance, and early-payment restrictions are not included. This is not an APR or lender quote.
Examples
Choose the unknown you want to solve for, then provide the remaining loan details. For example, a 25,000 balance at 6% over 60 months requires a payment of about 483.32 per month, before fees.
FAQ
Which value should I leave for the calculator to solve?
Select the mode that matches the unknown, then enter the other required values. The result is calculated from the fixed-rate loan model.
Does the result include an APR or closing costs?
No. This payment model excludes fees and is not a regulatory APR disclosure or lender quote.
Can I check the resulting schedule?
Use the Amortization Calculator to inspect principal, interest, and balance over time.
Related Calculators
- Loan Calculator — calculate a fixed-rate payment and schedule.
- Amortization Calculator — review the payment breakdown.
- APR Calculator — include selected upfront fees.
Internal links: follow your result into the Amortization Calculator or compare an estimated APR with the APR Calculator.