How this calculator works
Enter the amount borrowed, annual interest rate and repayment term. The calculator converts the annual rate into a periodic rate and spreads the balance across the repayment schedule.
Formula
Payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
When to use it
Use it to compare different loan amounts, rates or repayment terms before taking on debt.
Important
This calculator is for estimation and planning. Actual financial outcomes can differ because of taxes, fees, timing, market conditions, lender terms and other factors.