Finance calculator

Loan Payment Calculator

Calculate monthly loan payments from principal, annual interest rate, and term. See total interest and amount paid over the life of an amortizing loan.

Instant result

Result

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Enter values to calculate.

Inputs—

Mode—

Formula—

Formulas

Core equations used by this calculator.

PrimaryPMT = P·r(1+r)^n / ((1+r)^n−1); r = annual/12; n = years×12

iRuns locally in your browser. Results are informational — verify critical financial decisions independently.

How to use

Follow these steps for a clear answer.

1

Enter the known values

Fill in each field with amounts and rates as labeled.

2

Calculate

Results update as you type; compare scenarios below when available.

3

Read the outputs

Check the result panel for the primary figure and supporting totals.

Example calculations

Common configurations with formula and result.

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Worked example

250,000 at 6.5% for 30 years → monthly payment ≈ 1,580.17

PMT = P·r(1+r)^n / ((1+r)^n−1); r = annual/12; n = years×12

See result panel

Loan Payment calculator specification

Version 1.0.0 · Last reviewed 2026-07-28

Definition: An amortizing loan payment is the fixed periodic amount that pays down both interest and principal so the balance reaches zero at the end of the term. Monthly payment uses PMT = P·r(1+r)^n / ((1+r)^n−1) with r = annual rate/12 and n = years×12.
What it calculates: Monthly payment, total paid, and total interest for a fixed-rate amortizing loan.
Inputs: Values shown on the calculator form
Outputs: Primary result in the result panel
Formula: PMT = P·r(1+r)^n / ((1+r)^n−1); r = annual/12; n = years×12
About this calculator

An amortizing loan payment is the fixed periodic amount that pays down both interest and principal so the balance reaches zero at the end of the term. Monthly payment uses PMT = P·r(1+r)^n / ((1+r)^n−1) with r = annual rate/12 and n = years×12.

Formula

PMT = P·r(1+r)^n / ((1+r)^n−1); r = annual/12; n = years×12

Example

250,000 at 6.5% for 30 years → monthly payment ≈ 1,580.17
Assumptions: Fixed rates and terms as entered; no fees or taxes unless modeled.
Calculation runs locally in the browser.
Units: Currency units as entered (dimensionless rates in %)
Boundary conditions: Zero or missing required fields yield zero or empty results.
Negative inputs are treated as zero.
Example: 250,000 at 6.5% for 30 years → monthly payment ≈ 1,580.17
Validation cases: 250000 · 6.5% · 30 yr → payment ≈ 1580.17
10000 · 0% · 5 yr → payment = 166.67
200000 · 4% · 15 yr → payment ≈ 1479.38
Sources: Standard time-value-of-money / managerial accounting identities
Last reviewed: 2026-07-28
Calculation version: 1.0.0

Frequently asked questions

Key distinctions behind the calculation.

How does the Loan Payment Calculator work?

It uses PMT = P·r(1+r)^n / ((1+r)^n−1); r = annual/12; n = years×12. All math runs locally in your browser.

Can I share my inputs?

Yes. Use Copy link in the result panel — the URL stores your current inputs.