Loan Payment Calculator
Calculate a level monthly loan payment from principal, annual rate, and number of months.
How to use
- Enter principal, annual percentage rate, and payment months.
Capabilities and scope
The generic formula runner evaluates the standard fixed-payment equation and also shows total repayment and interest.
How it works
M=P·r(1+r)^n/((1+r)^n−1), where r=annualRate/1200.
Example
A 10,000,000 loan at 6% for 36 months returns the monthly payment and 36-payment totals.
Useful for
- Compare basic fixed-rate loan payment sizes
Before you use it
- Fees, insurance, prepayment, and variable rates are excluded; the current generic expression does not produce a finite result at exactly 0%.
Frequently asked questions
Does it show total interest?
Yes. It derives monthly payment×months−principal as an insight.