This payment calculator finds the periodic payment for a loan given its amount, annual interest rate, and term. It also shows the total amount paid and total interest for the chosen payment frequency.
Use it to quickly answer questions like "How much will my monthly payment be?" or "What happens if I switch to weekly or bi-weekly payments?".
Enter your information in the fields above, run the calculation, and review the result to understand what it means for your situation.
Look at the output in the context of your overall goals rather than in isolation. Consider how sensitive the result is to changes in your inputs (for example, adjusting the amount, rate, or time) to understand which factors matter most.
This tool is a simplified model and does not capture every nuance of real life. Treat it as a planning aid, not a guarantee. For important financial or health decisions, combine these results with professional advice and more detailed analysis.