Monthly Payment Calculator

Easily calculate a monthly loan payment. Ideal for mobile devices.

This calculator will calculate your loan payments and create a payment schedule. Its small size and limited number of inputs lend itself well to mobile device use.

Enter a "0" (zero) for one unknown value above.

© 2022, Pine Grove Software, LLC
$ : mm/dd/yyyy


Original Size
Click to make smaller (-) or larger (+).

An important note about the payment schedule

As with many calculators on this site, this calculator will create a schedule using your values.

This means you MUST always enter a "0" (zero) for any unknown value. The calculator will NOT automatically recalculate the last unknown.

This is a benefit. The commonly used payment equation results in a monthly payment of $802.25 for a 5-year, $42,000 loan at a 5.5% interest rate. But what if the debtor wants to pay $850 a month? If the calculator automatically recalculated the last unknown, creating a schedule with $850 payments would not be possible.

With this calculator, either the lender or the borrower can structure a loan to meet specific needs.

Just remember to reenter a "0" if you are doing what-ifs.

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