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The monthly payment formula calculates how much a loan payment will be and includes the loan's principal and interest. When you receive a loan from a lender, you receive an amount called the principal, and the lender tacks on interest.
Use this loan calculator for a simple calculation of your monthly payment along with interest paid on the loan. Create and print a loan amortization schedule. This calculator assumes interest compounding occurs monthly.
The loan payment formula shown is used for a standard loan amortized for a specific period of time with a fixed rate. Examples of specialized loans that do not apply to this formula include graduated payment, negatively amortized, interest only, option, and balloon loans.
Use this loan calculator to determine your monthly payment for any loan. You can also see how your loan amortizes, or how much is paid down, over the payoff period.
The loan payment calculator is a handy tool to compute the required monthly (or any other frequency) payments after taking a loan requiring equal payments. For example, you can estimate your car payment or mortgage installments.
Calculate monthly payments for a loan using our free calculator. Find payment, principal, interest rate and term. Create a loan repayment amortization schedule.
Free payment calculator to find monthly payment amount or time period to pay off a loan using a fixed term or a fixed payment.
Our simplified loan payment calculator can help you determine what your monthly payment could be including the principal amount and interest charges.
Your payment is calculated based on your interest rate and repayment period. The type of loan (interest-only or amortizing) will determine the loan payment formula and how interest is...
The formula to calculate your monthly loan payment is: P = a (r / n) Where: P is your monthly loan payment. a is your principal. r is your interest rate. n is the number of payments you make each year (which is 12) To use this formula, divide your interest rate by the number of payments you make in a year (usually 12).