How it works
For monthly rate r and n payments, the equal payment is P × r / (1 − (1+r)^−n). At zero interest, it is P divided by n.
Finance / HXD Labs
Loan payment calculator
Compare loan amount, interest rate and term using equal monthly payments under the Price amortization method.
Result
Fill in the fields to see the result.
How to use
Enter the principal, effective monthly rate and number of payments. Review the schedule to see interest and balance for each payment. To model an extra payment, enter the first due date, extra amount and a later payment date that matches a due date. This estimate excludes taxes, insurance, fees and lender-specific charges.
Example
A $10,000 loan over 12 months at 2% per month gives an estimated payment of about $945.60 before extra charges.
Good to know
A real agreement may include fees, insurance, taxes and different payment dates. Compare the lender's full cost disclosure.