The Payment Calculator can determine the monthly payment amount or loan term for a fixed-rate loan. Use the Fixed Term tab to calculate monthly payment, or the Fixed Payments tab to calculate how long it takes to pay off a loan with a set monthly payment.
Quickly estimate your periodic payment for any loan or lease with our free payment calculator. Enter the amount financed, interest rate, and term to see exactly what you'll owe each period.
Uses the standard amortization formula M = P[i(1+i)^n]/[(1+i)^n−1], where P is the amount financed, i is the periodic interest rate, and n is the number of payment periods.
Yes, the same periodic-payment math applies; for leases you may also want to factor in residual value separately.
This tool is built for flexible payment frequencies (weekly, bi-weekly, monthly), while the Loan Calculator focuses on standard monthly loans.
Yes, switching the frequency shows how more frequent payments can reduce total interest paid over time.
No, this estimates principal and interest only; add any origination or service fees to your amount financed if you want them reflected.