Loan Calculator
Calculate fixed payments for an amortizing loan with a defined rate and term.
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How to use
- 1Enter principal, annual interest, term and payment frequency.
About
Uses fixed payments under the French/Price amortization method; fees and taxes are excluded.
Loan calculator
Estimate fixed loan payment, total paid and total interest.
For periodic rate i, payment = P·i ÷ [1 − (1+i)^−n]. At zero interest, principal is divided by n.
Enter principal, annual rate, term in years and payments per year.
Total interest is total paid minus the financed principal.
Practical examples
- $10,000 at 12% yearly for 2 years with 12 payments gives a payment of about $470.73.
Limitations and notes
- This is a fixed-rate estimate and excludes fees, insurance and alternative amortization systems.
- Use valid values and keep all units consistent.
How to use
- 1Enter the principal.
- 2Enter rate and term.
- 3Choose payment frequency and review the payment.
Frequently asked questions
Is the annual rate converted?
Yes. It is divided by the payment frequency to obtain a periodic rate.
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