Payment Calculator
Calculate payments for a fixed repayment term or the payoff time for a chosen installment.
Solve a repayment installment or the time needed to repay a balance.
Result
- Principal
- Interest
Calculation details
Scroll horizontally or vertically to see more. Download CSV for the complete schedule.
| Period | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 386.66 | 100 | 286.66 | 19,713.34 |
| 2 | 386.66 | 98.57 | 288.09 | 19,425.25 |
| 3 | 386.66 | 97.13 | 289.53 | 19,135.72 |
| 4 | 386.66 | 95.68 | 290.98 | 18,844.75 |
| 5 | 386.66 | 94.22 | 292.43 | 18,552.32 |
| 6 | 386.66 | 92.76 | 293.89 | 18,258.42 |
| 7 | 386.66 | 91.29 | 295.36 | 17,963.06 |
| 8 | 386.66 | 89.82 | 296.84 | 17,666.22 |
| 9 | 386.66 | 88.33 | 298.32 | 17,367.89 |
| 10 | 386.66 | 86.84 | 299.82 | 17,068.07 |
| 11 | 386.66 | 85.34 | 301.32 | 16,766.76 |
| 12 | 386.66 | 83.83 | 302.82 | 16,463.94 |
| 13 | 386.66 | 82.32 | 304.34 | 16,159.60 |
| 14 | 386.66 | 80.80 | 305.86 | 15,853.74 |
| 15 | 386.66 | 79.27 | 307.39 | 15,546.35 |
| 16 | 386.66 | 77.73 | 308.92 | 15,237.43 |
| 17 | 386.66 | 76.19 | 310.47 | 14,926.96 |
| 18 | 386.66 | 74.63 | 312.02 | 14,614.94 |
| 19 | 386.66 | 73.07 | 313.58 | 14,301.36 |
| 20 | 386.66 | 71.51 | 315.15 | 13,986.21 |
| 21 | 386.66 | 69.93 | 316.72 | 13,669.49 |
| 22 | 386.66 | 68.35 | 318.31 | 13,351.18 |
| 23 | 386.66 | 66.76 | 319.90 | 13,031.28 |
| 24 | 386.66 | 65.16 | 321.50 | 12,709.78 |
| 25 | 386.66 | 63.55 | 323.11 | 12,386.67 |
| 26 | 386.66 | 61.93 | 324.72 | 12,061.95 |
| 27 | 386.66 | 60.31 | 326.35 | 11,735.60 |
| 28 | 386.66 | 58.68 | 327.98 | 11,407.62 |
| 29 | 386.66 | 57.04 | 329.62 | 11,078.00 |
| 30 | 386.66 | 55.39 | 331.27 | 10,746.74 |
| 31 | 386.66 | 53.73 | 332.92 | 10,413.82 |
| 32 | 386.66 | 52.07 | 334.59 | 10,079.23 |
| 33 | 386.66 | 50.40 | 336.26 | 9,742.97 |
| 34 | 386.66 | 48.71 | 337.94 | 9,405.03 |
| 35 | 386.66 | 47.03 | 339.63 | 9,065.40 |
| 36 | 386.66 | 45.33 | 341.33 | 8,724.07 |
How to use this calculator
Solve a repayment installment or the time needed to repay a balance. Enter amounts in the units shown, select the applicable options, and click Calculate. Use Reset to restore the starting values.
Calculation formula
Fixed installment amortization; solve the payment count when the installment is supplied.
Assumptions and accuracy
Review timing, rates, fees and result notes when comparing scenarios. Future returns and rates are assumptions rather than guaranteed outcomes. Monetary display follows the currency’s precision; intermediate calculations retain additional digits.
Choose what to calculate
Loan repayment time calculator from monthly payment
Find payoff time from a fixed payment, or calculate a payment for a chosen term. The last actual payment is limited to the outstanding balance plus interest.
Open this calculationUnderstanding this calculation
Find a monthly installment for a loan term, or estimate how long repayment takes with a selected payment. Compare interest and payment count rather than looking at the installment alone.
Worked examples
Find a monthly payment at zero interest
Illustrative inputs are specified in the steps below; the example link loads the complete settings. Unmentioned settings use the linked defaults.
- Divide a 12,000 principal over 12 monthly payments: 1,000 each.
Payment per period: 1,000 USD.
Try these inputsMonthly repayment with a 12% nominal annual rate
Principal 12,000 USD; 12 monthly payments; 12% nominal annual rate with monthly compounding. Fees and taxes are zero in this scenario.
- Monthly rate = 12% / 12 = 1%.
- Payment = 12000 × 0.01 / (1 − 1.01^(−12)).
- Check both the installment and the schedule; the final installment may be limited to the remaining balance.
Payment per period: 1066.19 USD.
Try these inputsCommon questions
Can I calculate the loan term from a monthly payment?
Yes, use the payment-supplied mode with principal and rate. Payments must be sufficient to reduce the balance.
Does a longer loan term lower total cost?
It can reduce installments while increasing total interest. Compare both amounts.
Scope and assumptions
The model assumes fixed-rate monthly repayment and no unentered fees. Balloon payments and variable rates need different treatment.
Sources
- Calculation methodology, rule versions and testing limitations
- Reference calculator for feature comparison (not a model-parity certification)
Calculation notes checked . Examples are mathematical checks under the stated assumptions.
Calculation methods and formulas
Fixed Term
Solve a repayment installment or the time needed to repay a balance.
Fixed installment amortization; solve the payment count when the installment is supplied.
Fixed Payment
Solve a repayment installment or the time needed to repay a balance.
Fixed installment amortization; solve the payment count when the installment is supplied.
See our calculation methodology and review status for data versions, rounding and validation limitations.