Estimate fixed monthly loan payments, interest and totals from principal, nominal rate and whole-month term.
Enter values, then calculate.
How the calculation works
Enter principal P, annual nominal rate and a term in years or months. Monthly rate r = annual rate ÷ 100 ÷ 12. For n monthly payments, payment = P×r ÷ (1−(1+r)^−n). At zero rate, payment = P÷n. Payments are assumed at the end of each month. Total interest = unrounded payment × n − P.
Example and verification
12,000 at 0% for 12 months gives 1,000 monthly and zero interest. Microsoft’s check example, 10,000 at 8% annual for 10 months, gives a monthly payment of 1,037.03.
Software checks cover the example, invalid input, zero or boundary cases, and reset in Chromium. No physical measurements or all-browser certification are claimed.
Scope and limitations
This is a constant-rate amortizing-loan estimate. APR with fees, effective annual rates, flat-rate loans, variable rates, taxes, insurance, lender day-count rules and payment rounding schedules are excluded. It is not a credit offer or financial recommendation. Real lenders may adjust the final payment.
Common questions
Can I use an effective annual rate directly?
No. The input is a nominal annual rate divided by 12. Convert an effective rate appropriately or use the lender’s stated monthly rate.
Technical references
Related calculators
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Maintained by GadgetsFocus. Updated 2 October 2026 with AI-assisted writing and translation review; no human native-speaker or clinical review is claimed.