A general-purpose calculator for the monthly payment on any fixed-rate, fixed-term loan.
Enter Your Details
Your Monthly Payment
—
Total Amount Paid—
Total Interest—
Formula
Payment = Loan Amount × r(1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n is the number of months.
Example
A $10,000 loan at 9% over 36 months has a monthly payment of about $318, with roughly $1,448 in total interest.
Not tax or financial advice. This calculator provides general estimates based on published 2026 figures. Always confirm important figures with the IRS, SSA, your state tax agency, a licensed lender, or a qualified professional.
Frequently Asked Questions
Can I use this for any type of loan?
Yes, this formula applies to any fixed-rate, fixed-term amortizing loan, including personal, auto, and other installment loans.
What if my loan has fees?
Add any financed fees to the loan amount if they are rolled into the balance, since they will accrue interest along with the principal.