Loan Payment Calculation

To calculate the payments on a loan, enter the data in the first row and then click on the <Calculate Payment> button. Enter numbers with no commas.

Loan Amount Annual Interest Rate Term in Years
$
%
years

Monthly Payment Total Paid Total Interest Paid
$/month
$
$

Experiment with the calculator. See how varying the amount and term of the loan changes the monthly payment and the total interest.

 

William F. Long, UM-St. Louis School of Optometry, 1998