Payment Calculator

Quickly see what a proposed loan or purchase would cost per pay period and why the total can change so much with a small tweak to rate or term. This view is useful when you’re comparing offers, setting a budget before you shop, or checking how a shorter or longer payoff timeline affects affordability and lifetime interest.

The payment calculator lets you run fast what-ifs: dial the price, rate, or payoff horizon up and down, explore biweekly vs monthly schedules, and instantly understand the trade-off between a lower payment today and more interest over time. The goal is to choose a plan that fits your cash flow without surprises-so you can say yes (or walk away) with confidence. Enter your numbers below to get started.

Compute a monthly payment for a fixed term, or find how long a fixed monthly amount will take to pay off your balance. See totals, charts, and an amortization schedule.

Loan Amount

Loan Term (years)

Interest Rate (APR)

Monthly Payment

$1,687.71

Total of 180 Payments: $303,788.46

Total Interest: $103,788.46

Breakdown

Principal: 66%
Interest: 34%

Balance and costs over time

Amortization schedule(180 months) - click to expand

#	Interest	Principal	Ending Balance
1	$1,000.00	$687.71	$199,312.29
2	$996.56	$691.15	$198,621.13
3	$993.11	$694.61	$197,926.53
4	$989.63	$698.08	$197,228.45
5	$986.14	$701.57	$196,526.87
6	$982.63	$705.08	$195,821.79
7	$979.11	$708.60	$195,113.19
8	$975.57	$712.15	$194,401.04
9	$972.01	$715.71	$193,685.33
10	$968.43	$719.29	$192,966.05
11	$964.83	$722.88	$192,243.16
12	$961.22	$726.50	$191,516.67
13	$957.58	$730.13	$190,786.53
14	$953.93	$733.78	$190,052.75
15	$950.26	$737.45	$189,315.30
16	$946.58	$741.14	$188,574.17
17	$942.87	$744.84	$187,829.32
18	$939.15	$748.57	$187,080.76
19	$935.40	$752.31	$186,328.45
20	$931.64	$756.07	$185,572.38
21	$927.86	$759.85	$184,812.52
22	$924.06	$763.65	$184,048.87
23	$920.24	$767.47	$183,281.40
24	$916.41	$771.31	$182,510.10
25	$912.55	$775.16	$181,734.93
26	$908.67	$779.04	$180,955.89
27	$904.78	$782.93	$180,172.96
28	$900.86	$786.85	$179,386.11
29	$896.93	$790.78	$178,595.33
30	$892.98	$794.74	$177,800.59
31	$889.00	$798.71	$177,001.88
32	$885.01	$802.70	$176,199.18
33	$881.00	$806.72	$175,392.46
34	$876.96	$810.75	$174,581.71
35	$872.91	$814.81	$173,766.90
36	$868.83	$818.88	$172,948.02
37	$864.74	$822.97	$172,125.05
38	$860.63	$827.09	$171,297.96
39	$856.49	$831.22	$170,466.74
40	$852.33	$835.38	$169,631.36
41	$848.16	$839.56	$168,791.80
42	$843.96	$843.75	$167,948.05
43	$839.74	$847.97	$167,100.07
44	$835.50	$852.21	$166,247.86
45	$831.24	$856.47	$165,391.39
46	$826.96	$860.76	$164,530.63
47	$822.65	$865.06	$163,665.57
48	$818.33	$869.39	$162,796.18
49	$813.98	$873.73	$161,922.45
50	$809.61	$878.10	$161,044.35
51	$805.22	$882.49	$160,161.86
52	$800.81	$886.90	$159,274.95
53	$796.37	$891.34	$158,383.61
54	$791.92	$895.80	$157,487.82
55	$787.44	$900.27	$156,587.54
56	$782.94	$904.78	$155,682.77
57	$778.41	$909.30	$154,773.47
58	$773.87	$913.85	$153,859.62
59	$769.30	$918.42	$152,941.20
60	$764.71	$923.01	$152,018.20
61	$760.09	$927.62	$151,090.57
62	$755.45	$932.26	$150,158.31
63	$750.79	$936.92	$149,221.39
64	$746.11	$941.61	$148,279.78
65	$741.40	$946.31	$147,333.47
66	$736.67	$951.05	$146,382.42
67	$731.91	$955.80	$145,426.62
68	$727.13	$960.58	$144,466.04
69	$722.33	$965.38	$143,500.66
70	$717.50	$970.21	$142,530.45
71	$712.65	$975.06	$141,555.39
72	$707.78	$979.94	$140,575.45
73	$702.88	$984.84	$139,590.61
74	$697.95	$989.76	$138,600.85
75	$693.00	$994.71	$137,606.14
76	$688.03	$999.68	$136,606.46
77	$683.03	$1,004.68	$135,601.78
78	$678.01	$1,009.70	$134,592.07
79	$672.96	$1,014.75	$133,577.32
80	$667.89	$1,019.83	$132,557.49
81	$662.79	$1,024.93	$131,532.57
82	$657.66	$1,030.05	$130,502.52
83	$652.51	$1,035.20	$129,467.32
84	$647.34	$1,040.38	$128,426.94
85	$642.13	$1,045.58	$127,381.36
86	$636.91	$1,050.81	$126,330.55
87	$631.65	$1,056.06	$125,274.49
88	$626.37	$1,061.34	$124,213.15
89	$621.07	$1,066.65	$123,146.50
90	$615.73	$1,071.98	$122,074.52
91	$610.37	$1,077.34	$120,997.18
92	$604.99	$1,082.73	$119,914.45
93	$599.57	$1,088.14	$118,826.31
94	$594.13	$1,093.58	$117,732.73
95	$588.66	$1,099.05	$116,633.68
96	$583.17	$1,104.55	$115,529.13
97	$577.65	$1,110.07	$114,419.07
98	$572.10	$1,115.62	$113,303.45
99	$566.52	$1,121.20	$112,182.25
100	$560.91	$1,126.80	$111,055.45
101	$555.28	$1,132.44	$109,923.01
102	$549.62	$1,138.10	$108,784.91
103	$543.92	$1,143.79	$107,641.13
104	$538.21	$1,149.51	$106,491.62
105	$532.46	$1,155.26	$105,336.36
106	$526.68	$1,161.03	$104,175.33
107	$520.88	$1,166.84	$103,008.49
108	$515.04	$1,172.67	$101,835.82
109	$509.18	$1,178.53	$100,657.29
110	$503.29	$1,184.43	$99,472.86
111	$497.36	$1,190.35	$98,282.51
112	$491.41	$1,196.30	$97,086.21
113	$485.43	$1,202.28	$95,883.93
114	$479.42	$1,208.29	$94,675.63
115	$473.38	$1,214.34	$93,461.30
116	$467.31	$1,220.41	$92,240.89
117	$461.20	$1,226.51	$91,014.38
118	$455.07	$1,232.64	$89,781.74
119	$448.91	$1,238.80	$88,542.93
120	$442.71	$1,245.00	$87,297.94
121	$436.49	$1,251.22	$86,046.71
122	$430.23	$1,257.48	$84,789.23
123	$423.95	$1,263.77	$83,525.46
124	$417.63	$1,270.09	$82,255.38
125	$411.28	$1,276.44	$80,978.94
126	$404.89	$1,282.82	$79,696.12
127	$398.48	$1,289.23	$78,406.89
128	$392.03	$1,295.68	$77,111.21
129	$385.56	$1,302.16	$75,809.05
130	$379.05	$1,308.67	$74,500.38
131	$372.50	$1,315.21	$73,185.17
132	$365.93	$1,321.79	$71,863.38
133	$359.32	$1,328.40	$70,534.99
134	$352.67	$1,335.04	$69,199.95
135	$346.00	$1,341.71	$67,858.23
136	$339.29	$1,348.42	$66,509.81
137	$332.55	$1,355.16	$65,154.65
138	$325.77	$1,361.94	$63,792.71
139	$318.96	$1,368.75	$62,423.96
140	$312.12	$1,375.59	$61,048.36
141	$305.24	$1,382.47	$59,665.89
142	$298.33	$1,389.38	$58,276.51
143	$291.38	$1,396.33	$56,880.18
144	$284.40	$1,403.31	$55,476.86
145	$277.38	$1,410.33	$54,066.53
146	$270.33	$1,417.38	$52,649.15
147	$263.25	$1,424.47	$51,224.68
148	$256.12	$1,431.59	$49,793.09
149	$248.97	$1,438.75	$48,354.35
150	$241.77	$1,445.94	$46,908.40
151	$234.54	$1,453.17	$45,455.23
152	$227.28	$1,460.44	$43,994.80
153	$219.97	$1,467.74	$42,527.06
154	$212.64	$1,475.08	$41,051.98
155	$205.26	$1,482.45	$39,569.52
156	$197.85	$1,489.87	$38,079.66
157	$190.40	$1,497.32	$36,582.34
158	$182.91	$1,504.80	$35,077.54
159	$175.39	$1,512.33	$33,565.21
160	$167.83	$1,519.89	$32,045.33
161	$160.23	$1,527.49	$30,517.84
162	$152.59	$1,535.12	$28,982.72
163	$144.91	$1,542.80	$27,439.92
164	$137.20	$1,550.51	$25,889.40
165	$129.45	$1,558.27	$24,331.13
166	$121.66	$1,566.06	$22,765.08
167	$113.83	$1,573.89	$21,191.19
168	$105.96	$1,581.76	$19,609.43
169	$98.05	$1,589.67	$18,019.76
170	$90.10	$1,597.61	$16,422.15
171	$82.11	$1,605.60	$14,816.55
172	$74.08	$1,613.63	$13,202.92
173	$66.01	$1,621.70	$11,581.22
174	$57.91	$1,629.81	$9,951.41
175	$49.76	$1,637.96	$8,313.45
176	$41.57	$1,646.15	$6,667.31
177	$33.34	$1,654.38	$5,012.93
178	$25.06	$1,662.65	$3,350.28
179	$16.75	$1,670.96	$1,679.32
180	$8.40	$1,679.32	$0.00

What our Payment Calculator does

Loans look simple on the surface-borrow money today and pay it back over time-but the way interest compounds means small choices can change the total cost by thousands of dollars. This tool gives you two practical ways to plan: a fixed term mode that answers “How much will my payment be if I want to finish in N years?” and a fixed payment mode that answers “If I can afford a certain monthly amount, how long will payoff take?” Both modes produce the same details: the monthly amount involved, the number of payments, the total repaid, and the split between interest and principal. You also get a schedule that shows how each payment moves the balance.

How the math works

The monthly payment for a fully amortizing, fixed-rate loan comes from the standard annuity formula. The APR you enter is converted to a monthly rate by dividing by 12. Each month’s interest equals the current balance multiplied by that monthly rate; the remainder of the payment reduces principal. Because the balance shrinks over time, the interest portion gets smaller and more of each payment goes toward principal-the line chart and table make this pattern easy to see.

In the fixed payment tab, the calculator solves for the number of months instead of the payment. There’s a boundary condition: if the monthly amount is less than the interest accruing each month, the balance never falls. The calculator detects that case so you can adjust inputs.

Picking a term vs. picking a payment

Fixed term: target a finish date or lender-required term and find the payment that matches.
Fixed payment: start from a budgeted amount and learn how many months you’ll need.

Early payments and extra principal

Most installment loans allow extra principal payments without penalty. Even small extras have an outsized effect because they cut the balance early, reducing interest that would have accrued later.

Reading the schedule

The schedule lists every month with columns for interest, principal, and ending balance. The first months of a long loan are interest-heavy; as time passes, principal accelerates and the balance falls faster.

Rules of thumb

Shorter terms reduce total interest but require higher monthly payments.
Small APR improvements often save more than small term changes-compare offers.
Direct extra cash to the highest APR (avalanche) to minimize interest.

Estimates only. Lender policies and fees vary. Confirm terms with your lender before committing.