Payment Calculator
Solve for the missing piece of a fixed-rate amortizing loan — pick whether you want a fixed term (and we'll compute the monthly payment) or fixed payments (and we'll compute the term).
Your Result
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| Result | What it means? |
|---|---|
| short | Comfortable The result is well within typical loan parameters. |
| medium | Moderate The result is in line with common loan durations or payments. |
| stretched | Stretched The result pushes typical affordability — review carefully. |
| long | Long The loan runs over a long horizon — total interest will be significant. |
| — | Infeasible With these inputs the loan can't be repaid — payment is too low to cover interest. |
Loan Formula
P = M · ((1+r)ⁿ − 1) ⁄ (r · (1+r)ⁿ)
Standard amortization relation between principal P, monthly payment M, monthly rate r, and number of payments n. Solve either direction depending on what's known.
- Fixed term → M = P · r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1).
- Fixed payment → n = −log(1 − P·r ⁄ M) ⁄ log(1 + r).
- At 0% interest the formula simplifies: M = P ⁄ n and n = P ⁄ M.
This calculator is for educational planning and does not constitute a loan offer. Actual rates, fees, and term limits depend on the lender, the borrower's profile, and the type of loan.