finance calculator
Calculate payments, interest cost, and payoff schedule for any loan.
Keep this page handy while comparing lender quotes, repayment terms, refinance options, or extra payment plans.
Monthly payment
$495
Formula
Payment = P x (r(1+r)^n / ((1+r)^n - 1))This standard amortization formula calculates a fixed payment from principal, monthly rate, and payment count.
Step by step
Example
A $25,000 loan at 7% for 5 years produces an estimated payment near $495 per month, with total interest shown separately so the full borrowing cost is clear.
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Summary
Monthly payment
$495
Estimated fixed payment.
Total interest
$4,702
Cost above principal.
Total repaid
$29,702
60 scheduled payments.
Loan principal
$25,000
Original amount borrowed.
D3 visualization
See how the total repayment splits between the amount borrowed and interest cost.
D3 visualization
A sampled view of the full loan term shows the outstanding balance declining to zero.
Full amortization schedule
Monthly view shows the full exact schedule. Quarterly and yearly views summarize the same monthly schedule. Weekly view is a weekly equivalent split for quick planning.
Swipe sideways to view all columns.
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Month 1 | $495 | $349 | $146 | $24,651 |
| Month 2 | $495 | $351 | $144 | $24,300 |
| Month 3 | $495 | $353 | $142 | $23,946 |
| Month 4 | $495 | $355 | $140 | $23,591 |
| Month 5 | $495 | $357 | $138 | $23,234 |
| Month 6 | $495 | $360 | $136 | $22,874 |
| Month 7 | $495 | $362 | $133 | $22,512 |
| Month 8 | $495 | $364 | $131 | $22,149 |
| Month 9 | $495 | $366 | $129 | $21,783 |
| Month 10 | $495 | $368 | $127 | $21,415 |
| Month 11 | $495 | $370 | $125 | $21,045 |
| Month 12 | $495 | $372 | $123 | $20,673 |
| Month 13 | $495 | $374 | $121 | $20,298 |
| Month 14 | $495 | $377 | $118 | $19,921 |
| Month 15 | $495 | $379 | $116 | $19,543 |
| Month 16 | $495 | $381 | $114 | $19,162 |
| Month 17 | $495 | $383 | $112 | $18,778 |
| Month 18 | $495 | $385 | $110 | $18,393 |
| Month 19 | $495 | $388 | $107 | $18,005 |
| Month 20 | $495 | $390 | $105 | $17,615 |
| Month 21 | $495 | $392 | $103 | $17,223 |
| Month 22 | $495 | $395 | $100 | $16,828 |
| Month 23 | $495 | $397 | $98 | $16,431 |
| Month 24 | $495 | $399 | $96 | $16,032 |
| Month 25 | $495 | $402 | $94 | $15,631 |
| Month 26 | $495 | $404 | $91 | $15,227 |
| Month 27 | $495 | $406 | $89 | $14,821 |
| Month 28 | $495 | $409 | $86 | $14,412 |
| Month 29 | $495 | $411 | $84 | $14,001 |
| Month 30 | $495 | $413 | $82 | $13,588 |
| Month 31 | $495 | $416 | $79 | $13,172 |
| Month 32 | $495 | $418 | $77 | $12,754 |
| Month 33 | $495 | $421 | $74 | $12,333 |
| Month 34 | $495 | $423 | $72 | $11,910 |
| Month 35 | $495 | $426 | $69 | $11,485 |
| Month 36 | $495 | $428 | $67 | $11,057 |
| Month 37 | $495 | $431 | $64 | $10,626 |
| Month 38 | $495 | $433 | $62 | $10,193 |
| Month 39 | $495 | $436 | $59 | $9,757 |
| Month 40 | $495 | $438 | $57 | $9,319 |
| Month 41 | $495 | $441 | $54 | $8,879 |
| Month 42 | $495 | $443 | $52 | $8,435 |
| Month 43 | $495 | $446 | $49 | $7,990 |
| Month 44 | $495 | $448 | $47 | $7,541 |
| Month 45 | $495 | $451 | $44 | $7,090 |
| Month 46 | $495 | $454 | $41 | $6,636 |
| Month 47 | $495 | $456 | $39 | $6,180 |
| Month 48 | $495 | $459 | $36 | $5,721 |
| Month 49 | $495 | $462 | $33 | $5,259 |
| Month 50 | $495 | $464 | $31 | $4,795 |
| Month 51 | $495 | $467 | $28 | $4,328 |
| Month 52 | $495 | $470 | $25 | $3,858 |
| Month 53 | $495 | $473 | $23 | $3,386 |
| Month 54 | $495 | $475 | $20 | $2,910 |
| Month 55 | $495 | $478 | $17 | $2,432 |
| Month 56 | $495 | $481 | $14 | $1,952 |
| Month 57 | $495 | $484 | $11 | $1,468 |
| Month 58 | $495 | $486 | $9 | $981 |
| Month 59 | $495 | $489 | $6 | $492 |
| Month 60 | $495 | $492 | $3 | $0 |
Guide
The loan calculator estimates the fixed monthly payment for an amortizing loan. It takes the amount borrowed, annual interest rate, and repayment term, then calculates monthly payment, total repayment, total interest, and the number of payments.
Because it also provides a schedule preview, it helps you see how interest behaves over time. Two loans can have similar monthly payments but very different total interest costs, especially when the term length changes.
Enter the loan amount, annual percentage rate, and term in years. Review the highlighted payment first, then check total interest and total repayment to understand the full cost of borrowing.
Use the chart and schedule to compare scenarios. Lowering the rate, shortening the term, or borrowing less can reduce total interest. Extending the term can lower the monthly payment but usually increases the total amount paid.
The calculator uses the fixed payment formula: Payment = P x (r(1+r)^n / ((1+r)^n - 1)). P is principal, r is the monthly rate, and n is the total number of monthly payments.
When the interest rate is zero, the formula simplifies to principal divided by payment count. Otherwise, each monthly payment first covers interest on the remaining balance, then applies the rest to principal.
Use it for personal loans, installment loans, debt consolidation, appliance financing, or any fixed-rate loan with predictable monthly payments. It is especially useful when comparing a lower payment against a longer payoff period.
The result is an estimate, not a final lender quote. Origination fees, prepayment rules, variable rates, late fees, and insurance products can change the real cost.
APR
The annualized cost of borrowing, often including certain fees in lender disclosures.
Principal
The amount borrowed before interest is added.
Total interest
The cost paid to the lender above the original principal.
A longer term spreads repayment over more months, which can lower the payment but gives interest more time to accrue.
Yes. The calculator works for most fixed-rate amortizing loans where the borrower makes equal monthly payments.
No. The payment is based on principal, rate, and term. Add fees separately when comparing real offers.