Payment Calculator

Calculate monthly payments for any amount, interest rate, and term.

Loan Amount

Annual Interest Rate (%)

Term

Term Unit

What is a Payment Calculator?

Calculate monthly loan payments for any amount, interest rate, and term. See total interest and total cost.

How to Use

Using the payment calculator is very simple:

Enter your values in the input fields
Click the calculate button
View the results instantly

Tips

Double-check your inputs for accurate results
This tool is for estimation - consult a professional for important decisions
Save your results for future reference

Frequently Asked Questions

How do I calculate monthly payments?+

Monthly payments are calculated using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.

Does a longer term mean lower payments?+

Yes, longer terms have lower monthly payments, but you pay more total interest. A $25,000 loan at 6.5% has a $489 monthly payment over 5 years ($4,349 interest), versus $280 over 10 years ($8,580 interest).

What does this calculator not include?+

This only calculates principal and interest. Actual payments may include taxes, insurance, fees, and other escrow items depending on the loan type.