Loan Payment and Amortization Calculator
Calculate a fixed-rate monthly loan payment and repayment schedule. Compare extra principal payments, total interest and a separately paid upfront fee.
YOUR CALCULATION
Result
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Calculation steps
Work through one step at a time or reveal the complete calculation. The steps use your current inputs.
How to calculate
Divide the nominal annual rate by twelve. Set the equal monthly payment to amortize the principal over the entered term. Each month first accrues interest on the opening balance; the remaining payment repays principal. Extra principal can bring payoff forward.
M=Pr/[1−(1+r)^−N]; interest=opening balance×r
Worked example
At zero interest, borrowing1200 over12 monthly payments requires100 per month. An additional100 each month pays the principal off in6 months. A separately paid50 fee makes total cash outflow1250, without changing the financed principal.
Assumptions and input details
Principal0.01–1e12; annual rate0–100%; term1–600 months. Very high-rate/long-term combinations with Nlog(1+r)>25 are rejected for precision. Extra principal and the upfront fee are nonnegative, in the same entered currency. Interest compounds monthly and payments are at period end. The final payment is adjusted to the remaining balance. No per-payment cent rounding, taxes, insurance, rate changes or early-payment penalties are inferred. This is not a contractual quote or an APR calculation.
References: CFPB amortization explanation
Using this calculator
Can I enter my own problem?
Yes. Replace the example values with your own inputs. The result, calculation steps, tables and applicable diagrams update from those inputs. Blank or invalid values clear the result; example values are never silently substituted for missing inputs.
Are the results exact?
Results use floating-point arithmetic and displayed rounding. Read the formula, assumptions and any stated data precision before interpreting the result.
Is my input uploaded?
The calculation runs in your browser. No account, file upload or external AI service is required. Inputs are not saved between page reloads.
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