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 make it well suited for use on mobile devices.
The Calculator-Calculate Loan Repayment Amount Required
Information
This text is dynamically cleared and added as needed.
Click to make smaller (-) or larger (+).
An important note about the payment schedule
As with many calculators on this site, this calculator creates a schedule using your values.
This means you MUST always enter “0” (zero) for any unknown value. The calculator will NOT automatically recalculate the last unknown.
This is a benefit. The commonly used payment equation produces a monthly payment of $802.25 for a 5-year, $42,000 loan at a 5.5% interest rate. But if the debtor wants to pay $850 per month, automatic recalculation would prevent creating a schedule with $850 payments.
With this calculator, either the lender or the borrower can structure a loan to meet specific needs.
Remember to reenter “0” when you are running what-if scenarios.
Related: These calculators calculate loan payment amounts as well. However, they are more feature-rich. For example, with many, you can set the dates and/or add extra payments.
This payment calculator assumes monthly payments while the user enters the number of years. The user has fewer options with this calculator than with other calculators on this site. However, fewer options make the calculator faster to use and smaller—which makes it a good choice for smaller screens. (The other calculators also work on mobile screens.)
This calculator will solve for any one of four possible unknowns: “Amount of Loan,” “Number of Years” (term), “Annual Interest Rate,” or “Payment Amount.”
Enter “0” (zero) for one unknown value.
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking “Save changes” will cause the calculator to reload. Your edits will be lost.
Calculator Help
Print Preview
Charts
2 Comments on “Payment Amount Calculator | Solve For Unknowns”
Questions? Ask them here. We're happy to help.
Cindy Reed says:
I cannot find an option to edit first payment date.
Karl says:
Use this loan calculator instead. You’ll be able to select a loan date and a different first payment date on the "Options" tab. It will also solve for any unknown, including payment amount.
Cindy Reed says:
I cannot find an option to edit first payment date.
Karl says:
Use this loan calculator instead. You’ll be able to select a loan date and a different first payment date on the "Options" tab. It will also solve for any unknown, including payment amount.