Loan Payment Calculator
Calculate the monthly payment for any loan or mortgage. Enter the amount, interest rate, and term.
Example
A $10,000 loan at 6% annual interest over 3 years has a monthly payment of $304.22.
How it's calculated
Formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P = loan amount, r = monthly rate, n = number of months.
Frequently Asked Questions
What is a monthly loan payment?
It is the fixed monthly payment that includes both a portion of the principal and the interest for that period.
What is the French amortization system?
The most common system: equal monthly payments where you pay more interest at the start and more principal toward the end.