Payment Calculator
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Payment Results
$0
Monthly Payment
$0
Total Interest
$0
Total Payment
-
Payoff Date
| Payment # | Payment Date | Payment | Principal | Interest | Remaining Balance |
|---|
About the Payment Calculator
Our Payment Calculator helps you estimate your loan payments, total interest costs, and generates a complete amortization schedule.
Key Features
- Accurate Payment Calculation: Calculate monthly payments for any loan amount
- Detailed Amortization: See how each payment is split between principal and interest
- Flexible Terms: Calculate payments for loans in years or months
- Payoff Date: See when your loan will be fully paid off
- Total Cost Analysis: Understand the total interest paid over the life of the loan
Formulas Used
Monthly Payment Calculation:
M = P × (r × (1 + r)^n) / ((1 + r)^n - 1)
Where:
M = Monthly payment
P = Principal loan amount
r = Monthly interest rate (annual rate ÷ 12)
n = Number of payments (loan term in months)
Where:
M = Monthly payment
P = Principal loan amount
r = Monthly interest rate (annual rate ÷ 12)
n = Number of payments (loan term in months)
Who Uses This Tool?
Homebuyers: Estimate mortgage payments before house hunting.
Car Shoppers: Calculate auto loan payments for different terms.
Students: Understand student loan repayment options.
Personal Finance: Plan for personal loans or credit card debt repayment.
Business Owners: Calculate payments for business loans and equipment financing.