Payment Calculator
The Payment Calculator can determine the monthly payment amount or loan term for a fixed interest loan. Use the “Fixed Term” tab to calculate the monthly payment of a fixed-term loan. Use the “Fixed Payments” tab to calculate the time to pay off a loan with a fixed monthly payment. For more information about or to do calculations specifically for car payments, please use the Auto Loan Calculator. To find the net payment of salary after taxes and deductions, use the Take-Home-Pay Calculator.
Modify the values and click the calculate button to use
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Payment Calculator – Calculate Loan Payments & Amortization Schedules
The Payment Calculator is a powerful financial tool designed to help you determine monthly loan payments, loan terms, and detailed amortization schedules for fixed-interest loans. Whether you’re planning a mortgage, personal loan, or auto financing, this calculator provides accurate results to guide your financial decisions.
Key Features
1. Fixed Term Calculator
- Calculate your monthly payment for a loan with a fixed term.
- Input:
- Loan Amount ($)
- Loan Term (years)
- Interest Rate (%)
- Results:
- Monthly Payment
- Total Payments over the loan term
- Total Interest Paid
- Amortization Schedule (annual & monthly breakdowns)
2. Fixed Payments Calculator
- Determine how long it will take to pay off a loan with fixed monthly payments.
- Input:
- Loan Amount ($)
- Monthly Payment ($)
- Interest Rate (%)
- Results:
- Payoff Time (years & months)
- Total Interest Paid
- Total Payments
- Amortization Schedule (annual & monthly breakdowns)
3. Detailed Amortization Schedules
- View year-by-year or month-by-month breakdowns of:
- Interest Paid
- Principal Paid
- Remaining Balance
Who Should Use This Calculator?
- Borrowers – Estimate monthly payments before taking out a loan.
- Homebuyers – Plan mortgage payments and compare loan terms.
- Auto Loan Shoppers – Calculate car loan affordability.
- Debt Payoff Planners – See how extra payments reduce interest and shorten loan terms.
How It Works
- Choose a tab (Fixed Term or Fixed Payments).
- Enter loan details (amount, term/rate, or monthly payment).
- Click “Calculate” to see results instantly.
- View amortization schedules to track interest vs. principal over time.
Try It Now & Take Control of Your Finances!
This calculator helps you make informed borrowing decisions by providing clear, detailed payment breakdowns. Whether you’re budgeting for a new home, car, or personal loan, the Payment Calculator ensures you know exactly what to expect.