Payment Calculator

The Payment Calculator solves for payment amount given loan balance, rate, and term—or solves for payoff time given a fixed payment. Both modes use...

Modify the values and click the Calculate button to use.
Results

Enter values and click Calculate.

Schedule

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Introduction

The Payment Calculator solves for payment amount given loan balance, rate, and term—or solves for payoff time given a fixed payment. Both modes use standard amortization formulas lenders apply in underwriting.

Monthly Payment Math

The Payment Calculator solves for payment amount given loan balance, rate, and term—or solves for payoff time given a fixed payment. Both modes use standard amortization formulas lenders apply in underwriting.

Fixed Term Mode

Enter principal, APR, and term in years and months. Results show monthly payment, total of all payments, total interest, and a principal-vs-interest donut chart.

Fixed Payments Mode

Enter the monthly amount you can afford. The tool calculates how many months until payoff and total interest paid—ideal for budgeting around a set cash outflow.

Schedules and Charts

Annual and monthly amortization tables plus a line chart of balance and cumulative interest help you visualize the loan lifecycle.

Related Tools

Loan Calculator, Repayment Calculator, Debt Payoff Calculator.

How It Works

  1. Enter your amounts, rates, and term in the form. Use the same units shown in the labels (dollars, years, percent).
  2. Click Calculate to run the Payment Calculator engine. Invalid or empty required fields show a clear error message.
  3. Review the summary cards for the key outputs. Expand schedules or tables when available for period-by-period detail.
  4. Copy, print, or share your scenario link. Reset the form anytime to start a fresh comparison.

Formula

Monthly payment (amortizing loan): M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly rate (APR/12), and n is number of months.

FAQ

Yes. CDCalculator.io provides the Payment Calculator at no charge for personal and educational use. Results are estimates and not financial advice.

The tool uses standard formulas lenders and planners use in spreadsheets. Your bank may round differently or include fees not modeled here.

Use the Copy Results and Print buttons on the calculator panel after you run a scenario. You can also share the page link with colleagues.

Focus on realistic rates, terms, and any extra payments or contributions. Small changes in APR or time horizon often move outcomes more than rounding.

No. Use this calculator to explore scenarios, then consult a qualified advisor or lender for decisions about other financial products.