CalculateMeasure

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Loan Amortization Calculator

Calculate a fixed monthly loan payment, total payments, and total interest for an amortizing loan.

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Calculator guide

How to use the Loan Amortization Calculator

Calculate a fixed monthly loan payment, total payments, and total interest for an amortizing loan. Enter the requested values and select Calculate. The result and supporting values are produced locally in your browser.

Formula

Payment = P × i ÷ [1 − (1 + i)^(-n)]

Worked example

A $250,000, 30-year loan at 6.5% has a monthly principal-and-interest payment of about $1,580.17.

What to keep in mind

  • This is a principal-and-interest amortization estimate. Taxes, insurance, fees, escrow, and variable rates are not included.
  • The term is converted to monthly payments.

Methodology

This calculator uses deterministic arithmetic and performs the calculation locally in your browser. Verify assumptions, units, and source values for your specific use case.

Review standard: Level A · Standard formula. How calculator reviews work.

Frequently asked questions

What does this calculator calculate?

Calculate a fixed monthly loan payment, total payments, and total interest for an amortizing loan.

How is the result calculated?

Payment = P × i ÷ [1 − (1 + i)^(-n)].

Can I use the result for an important decision?

Use the result as a calculation aid and verify the inputs, assumptions, and applicable professional or regulatory requirements before relying on it for an important decision.

Does CalculateMeasure store the values I enter?

The calculator performs its arithmetic in your browser. The calculator itself does not need to send your entered values to a server to produce the result.