Monthly Payment Calculator
Compute the monthly payment for any amortized loan. Enter the loan amount, annual interest rate and term, and the calculator returns the monthly payment plus a breakdown of principal, interest and total paid.
Enter loan details
Enter loan details and press Calculate payment.
Amortized payment formula
M = P · [ r(1+r)^n ] / [ (1+r)^n − 1 ]
Where M is the payment per period, P is the principal, r is the rate per period (annual ÷ periods per year ÷ 100), and n is the total number of periods (years × periods per year).
Related calculators
Frequently asked questions
Splitting a monthly payment in half and paying it every two weeks gives you 26 half-payments a year — the equivalent of 13 monthly payments. The extra payment reduces principal faster and shortens the loan, saving interest. This calculator supports any frequency from annual to monthly.
With 0% interest, the payment is simply principal ÷ number of periods. Some promotional loans (furniture, appliances) offer 0% APR for a fixed term — the calculator handles this case cleanly.