Loan Payment Amount Calculator
This Loan Payment Amount Calculator helps you determine your fixed monthly loan payment based on the principal, interest rate, and loan term.
Monthly Loan Payment Estimator
Loan Payment Calculation Formula
\[
\text{Monthly Payment} = \frac{P \times r}{1 – (1 + r)^{-n}}
\]
Where:
- $$P$$ = Loan principal (amount borrowed)
- $$r$$ = Monthly interest rate (annual rate divided by 12)
- $$n$$ = Total number of monthly payments
- $$Monthly Payment$$ = Amount to be paid each month
The Loan Payment Amount Calculator helps you estimate how much you’ll pay monthly on a loan, making it easier to budget and compare different financing options like mortgages, personal loans, or auto loans.