Loan payment
Equal monthly payments (amortizing) — see what you pay each month and how much of it is interest over the life of the loan.
%
months
How it works
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is principal, r the monthly rate (annual ÷ 12) and n the number of months.
Assumptions
- Fully amortizing, no interest-only period
- Currency-agnostic: units are whatever you enter
FAQ
How is this different from equal-principal?
Equal-principal repays the same principal each month, so early payments are higher but total interest is lower.