Payment Calculator
Payment = L × r(1+r)^n ÷ ((1+r)^n − 1)r=0.005, n=48, payment ≈ $352
Free online tool
Payment Calculator
Enter the loan amount, interest rate and term to find the required monthly payment.
Instant calculation
Payment Calculator
Enter the loan amount, interest rate and term to find the required monthly payment.
Your result
Calculation
Your numbers stay in this browser. Nothing is uploaded or saved.
Three clear steps
How to use this calculator
- 01
Enter loan amount
Type the amount you plan to finance.
- 02
Enter rate and term
Provide the annual interest rate and loan term in months.
- 03
See payment
Calculate to see the fixed monthly payment.
The formula
How this calculation works
Standard loan payment formula. L=loan amount, r=monthly interest rate, n=total number of payments.
Check the method
Worked examples
Each example follows the same formula used by the calculator.
$15,000 at 6% for 48 months — monthly payment?
r=0.005, n=48, payment ≈ $352≈ $352.28/monthCommon questions
Questions about this calculation
What is the Payment Calculator?
The Payment Calculator helps you calculate the fixed monthly payment for any amortizing loan. Enter your values and select Calculate to get an instant result.
How is the result calculated?
Standard loan payment formula. L=loan amount, r=monthly interest rate, n=total number of payments.
Can you show an example?
Example: $15,000 at 6% for 48 months — monthly payment? — ≈ $352.28/month.
Is my data saved when I use the Payment Calculator?
No. All calculations run locally in your browser. Your inputs and results are never uploaded, stored or shared with anyone.
Is the Payment Calculator free to use?
Yes. The Payment Calculator is completely free. No account, sign-up or payment is required. It works on mobile, tablet and desktop.
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