Calculate the payment and total interest for a standard installment loan with equal monthly payments.
Payment formulas, credit-card payoff time, debt ratios and installment-loan planning.
Enter the requested values above and select Calculate. The result updates immediately on the page, so you can change one value and compare different scenarios without leaving the calculator.
A $25,000 five-year loan at 8.5% can be compared by monthly payment, total paid and total interest.
Calculate the payment and total interest for a standard installment loan with equal monthly payments. It is designed for quick estimates and everyday problem solving. When a calculation affects a contract, tax filing, medical decision or other high-stakes situation, verify the result with the appropriate professional or authoritative source.
For an $18,000 loan at 7.5% over four years, the standard amortization formula produces a payment of roughly $435 each month. Extending the same loan over more years lowers the payment but generally increases total interest.
What to check: The model uses a fixed rate and equal scheduled payments. Origination fees, variable APR, payments made on different dates, and balloon amounts are not part of the standard result.
Compare with the Debt Payoff calculator when that better matches the question you are trying to answer.
Calculate the payment and total interest for a standard installment loan with equal monthly payments.
Payment = P × r(1+r)^n ÷ ((1+r)^n − 1).
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