Loan Payment
Monthly repayments and total interest.
Monthly repayments and total interest.
Monthly repayments and total interest. Fill in the fields above and the result updates instantly, together with the formula behind it.
Payment = P × r ÷ (1 − (1 + r)^(−n)), where r = nominal annual rate/12
For a $20,000 loan at 6% nominal annual interest over 48 months, the monthly payment is about $469.70.
Assumes fixed nominal interest, monthly compounding and equal payments. Excludes fees, insurance and variable rates.
Payment = P × r ÷ (1 − (1 + r)^(−n)), where r = nominal annual rate/12. Example: For a $20,000 loan at 6% nominal annual interest over 48 months, the monthly payment is about $469.70.
You enter: Loan amount; Nominal annual interest (%); Loan term (months). An example value is shown in each empty field, and the result appears as soon as the numbers are valid.
The estimate assumes a fixed rate, equal monthly payments and monthly compounding. Fees, insurance, variable rates and the lender’s rounding rules change the real figure.
Yes. Use Copy to copy the result or full example. Share creates a link that puts your chosen values into the URL fragment so another person can reproduce the calculation. Your named saves and recent history stay in your own browser.