Payment calculator.
Solve monthly payment for a fixed term or payoff time for fixed monthly payments.
Payment Calculator inputs
Choose fixed-term or fixed-payment mode, then enter loan amount, payment, term, and rate.
Payment mode
Choose whether to solve payment for a fixed term or payoff time for a fixed payment.
Loan terms
Enter the loan amount, term, monthly payment, and interest rate.
Visual breakdown
Live labels, comparison cards, charts, and schedule outputs update as you change the inputs.
Comparison chart
Compares the key values for this calculation.
Schedule graph
Shows the value path over time.
Schedule
Detailed rows for the first periods and final result.
About the Payment Calculator
This calculator solves either the monthly payment for a fixed-term loan or the payoff time for a loan with a fixed monthly payment. It also shows total payments, total interest, a principal/interest breakdown, and an amortization schedule.
Fixed term
Enter the loan amount, rate, and term to calculate the required monthly payment.
Fixed payments
Enter the payment amount to estimate how many months it will take to fully repay the loan.
Amortization
The schedule separates each payment into interest and principal and shows the declining balance.
How to use this calculator
Select a mode, then enter the loan amount and annual interest rate. In fixed-term mode, enter the loan term. In fixed-payment mode, enter the monthly payment. Review the result, chart, and amortization table.
Payment vs. term tradeoff
Higher payments generally shorten the payoff time and reduce total interest. Lower payments can increase total interest and may fail to amortize the loan if they do not cover monthly interest.
Related calculators
Loan Calculator · Amortization Calculator · Mortgage Calculator
⚠ Disclaimer: This calculator is for education and planning. Actual loan payments may include fees, insurance, escrow, taxes, adjustable rates, prepayment rules, or lender-specific rounding.
Payment Calculator FAQ
Common questions about inputs, assumptions, outputs, schedules, and limitations.
What does the Payment Calculator solve?
It can solve the monthly payment for a fixed-term loan or the payoff time for a fixed monthly payment.
What is fixed-term mode?
Fixed-term mode calculates the monthly payment needed to pay off a loan over a selected number of years.
What is fixed-payment mode?
Fixed-payment mode estimates how long it will take to pay off the loan using the monthly payment you enter.
What happens if the monthly payment is too low?
If the payment does not cover monthly interest, the balance will not amortize and the calculator warns that payoff is not possible under those assumptions.
Does this include taxes or insurance?
No. It focuses on principal and interest only.