finance calculator
Find monthly payments from loan amount, term, and interest rate.
Return to this page whenever you need to test a new APR, term, or amount before signing a financing offer.
Monthly payment
$489
Formula
Payment = P x (r(1+r)^n / ((1+r)^n - 1))The formula turns a loan balance, periodic interest rate, and number of payments into a fixed monthly payment.
Step by step
Example
A $25,000 loan at 6.5% APR for 60 months produces an estimated payment near $489 per month.
Related guides
Guide
Learn how loan payments are calculated, what principal, interest rate, and term mean, and how to compare monthly payment scenarios before borrowing.
Guide
Understand how mortgage amortization works, why early payments are mostly interest, how extra payments reduce total cost, and how to read an amortization schedule.
Summary
Monthly payment
$489
Estimated fixed installment.
Total interest
$4,349
Borrowing cost over the term.
Total paid
$29,349
Principal plus interest.
Term
60 months
Scheduled payment count.
D3 visualization
Compare the original amount financed with the interest paid over the full term.
D3 visualization
Track the balance decline across the first scheduled payments.
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 | $489 | $354 | $135 | $24,646 |
| Month 2 | $489 | $356 | $134 | $24,291 |
| Month 3 | $489 | $358 | $132 | $23,933 |
| Month 4 | $489 | $360 | $130 | $23,574 |
| Month 5 | $489 | $361 | $128 | $23,212 |
| Month 6 | $489 | $363 | $126 | $22,849 |
| Month 7 | $489 | $365 | $124 | $22,483 |
| Month 8 | $489 | $367 | $122 | $22,116 |
| Month 9 | $489 | $369 | $120 | $21,747 |
| Month 10 | $489 | $371 | $118 | $21,375 |
| Month 11 | $489 | $373 | $116 | $21,002 |
| Month 12 | $489 | $375 | $114 | $20,626 |
| Month 13 | $489 | $377 | $112 | $20,249 |
| Month 14 | $489 | $379 | $110 | $19,869 |
| Month 15 | $489 | $382 | $108 | $19,488 |
| Month 16 | $489 | $384 | $106 | $19,104 |
| Month 17 | $489 | $386 | $103 | $18,719 |
| Month 18 | $489 | $388 | $101 | $18,331 |
| Month 19 | $489 | $390 | $99 | $17,941 |
| Month 20 | $489 | $392 | $97 | $17,549 |
| Month 21 | $489 | $394 | $95 | $17,155 |
| Month 22 | $489 | $396 | $93 | $16,759 |
| Month 23 | $489 | $398 | $91 | $16,360 |
| Month 24 | $489 | $401 | $89 | $15,960 |
| Month 25 | $489 | $403 | $86 | $15,557 |
| Month 26 | $489 | $405 | $84 | $15,152 |
| Month 27 | $489 | $407 | $82 | $14,745 |
| Month 28 | $489 | $409 | $80 | $14,336 |
| Month 29 | $489 | $412 | $78 | $13,924 |
| Month 30 | $489 | $414 | $75 | $13,511 |
| Month 31 | $489 | $416 | $73 | $13,095 |
| Month 32 | $489 | $418 | $71 | $12,676 |
| Month 33 | $489 | $420 | $69 | $12,256 |
| Month 34 | $489 | $423 | $66 | $11,833 |
| Month 35 | $489 | $425 | $64 | $11,408 |
| Month 36 | $489 | $427 | $62 | $10,981 |
| Month 37 | $489 | $430 | $59 | $10,551 |
| Month 38 | $489 | $432 | $57 | $10,119 |
| Month 39 | $489 | $434 | $55 | $9,685 |
| Month 40 | $489 | $437 | $52 | $9,248 |
| Month 41 | $489 | $439 | $50 | $8,809 |
| Month 42 | $489 | $441 | $48 | $8,368 |
| Month 43 | $489 | $444 | $45 | $7,924 |
| Month 44 | $489 | $446 | $43 | $7,478 |
| Month 45 | $489 | $449 | $41 | $7,029 |
| Month 46 | $489 | $451 | $38 | $6,578 |
| Month 47 | $489 | $454 | $36 | $6,124 |
| Month 48 | $489 | $456 | $33 | $5,668 |
| Month 49 | $489 | $458 | $31 | $5,210 |
| Month 50 | $489 | $461 | $28 | $4,749 |
| Month 51 | $489 | $463 | $26 | $4,285 |
| Month 52 | $489 | $466 | $23 | $3,820 |
| Month 53 | $489 | $468 | $21 | $3,351 |
| Month 54 | $489 | $471 | $18 | $2,880 |
| Month 55 | $489 | $474 | $16 | $2,407 |
| Month 56 | $489 | $476 | $13 | $1,930 |
| Month 57 | $489 | $479 | $10 | $1,452 |
| Month 58 | $489 | $481 | $8 | $970 |
| Month 59 | $489 | $484 | $5 | $487 |
| Month 60 | $489 | $487 | $3 | $0 |
Guide
The payment calculator solves one of the most common borrowing questions: what monthly payment will this loan create? It uses the loan amount, APR, and number of months to estimate a fixed installment payment.
It also shows total interest and total paid so the monthly payment is not viewed in isolation. A low payment can still be expensive when the term is long, and this page is designed to make that tradeoff visible.
Enter the amount financed, the quoted APR, and the repayment term in months. If you are comparing offers, keep the amount the same and adjust the APR or term to see how the payment and total interest change.
Use the chart to understand how much of the total repayment is principal versus interest. Use the schedule preview to see how each payment gradually lowers the balance.
The calculator uses the amortizing payment formula. The annual percentage rate is divided by 12 to create a monthly rate, and the term in months is used as the number of payments.
The same formula applies to many installment products, including auto loans, personal loans, and fixed repayment plans. It does not model variable rates or promotional interest periods.
Installment payment
A fixed recurring amount used to repay a loan over time.
Term length
The number of months used to repay the balance.
Interest cost
The extra amount paid above the borrowed principal.
The math is similar. This page focuses on quickly finding a monthly payment from amount, APR, and term in months.
Yes. Recalculate with different APRs or terms and compare monthly payment, total interest, and total paid.
No. It estimates payment from loan amount, APR, and term only. Add taxes, insurance, or fees separately if they apply.