Payment Calculator

Determine loan payments and total costs quickly using our accurate calculator.

Payment Calculator

Loan Amount

, ,

Interest Rate

, ,

Loan Term

years

, , , , ,

months

Loan Amount

, ,

Interest Rate

, ,

Monthly Pay

, , ,

There was an error with your calculation.

Result

Monthly Payment: $1,186.19

You will need to pay $1,186.19 every month for 15 years to payoff the debt

Time Required to Clear Debt: 15 years

Total of 180 Payments: $213,514.20

Total Interest: $63,514.20

Interest

Principal

Balance

0 yr

5 yr

10 yr

15 yr

#	BEGINNING BALANCE	INTEREST	PRINCIPAL	ENDING BALANCE
1	$150,000.00	$7,343.51	$6,890.77	$143,109.23
2	$143,109.23	$6,990.96	$7,243.32	$135,865.91
3	$135,865.91	$6,620.38	$7,613.90	$128,252.02
4	$128,252.02	$6,230.84	$8,003.44	$120,248.58
5	$120,248.58	$5,821.37	$8,412.91	$111,835.67
6	$111,835.67	$5,390.95	$8,843.33	$102,992.34
7	$102,992.34	$4,938.51	$9,295.77	$93,696.56
8	$93,696.56	$4,462.92	$9,771.36	$83,925.20
9	$83,925.20	$3,963.00	$10,271.28	$73,653.92
10	$73,653.92	$3,437.50	$10,796.78	$62,857.14
11	$62,857.14	$2,885.11	$11,349.17	$51,507.97
12	$51,507.97	$2,304.47	$11,929.81	$39,578.16
13	$39,578.16	$1,694.12	$12,540.16	$27,038.00
14	$27,038.00	$1,052.54	$13,181.74	$13,856.26
15	$13,856.14	$378.14	$13,856.14	$0.00

#	BEGINNING BALANCE	INTEREST	PRINCIPAL	ENDING BALANCE
1	$150,000.00	$625.00	$561.19	$149,438.81
2	$149,438.81	$622.66	$563.53	$148,875.28
3	$148,875.28	$620.31	$565.88	$148,309.41
4	$148,309.41	$617.96	$568.23	$147,741.17
5	$147,741.17	$615.59	$570.60	$147,170.57
6	$147,170.57	$613.21	$572.98	$146,597.59
7	$146,597.59	$610.82	$575.37	$146,022.22
8	$146,022.22	$608.43	$577.76	$145,444.46
9	$145,444.46	$606.02	$580.17	$144,864.29
10	$144,864.29	$603.60	$582.59	$144,281.70
11	$144,281.70	$601.17	$585.02	$143,696.68
12	$143,696.68	$598.74	$587.45	$143,109.23
Year 1 End
13	$143,109.23	$596.29	$589.90	$142,519.33
14	$142,519.33	$593.83	$592.36	$141,926.97
15	$141,926.97	$591.36	$594.83	$141,332.14
16	$141,332.14	$588.88	$597.31	$140,734.83
17	$140,734.83	$586.40	$599.79	$140,135.04
18	$140,135.04	$583.90	$602.29	$139,532.75
19	$139,532.75	$581.39	$604.80	$138,927.94
20	$138,927.94	$578.87	$607.32	$138,320.62
21	$138,320.62	$576.34	$609.85	$137,710.76
22	$137,710.76	$573.79	$612.40	$137,098.37
23	$137,098.37	$571.24	$614.95	$136,483.42
24	$136,483.42	$568.68	$617.51	$135,865.91
Year 2 End
25	$135,865.91	$566.11	$620.08	$135,245.83
26	$135,245.83	$563.52	$622.67	$134,623.17
27	$134,623.17	$560.93	$625.26	$133,997.91
28	$133,997.91	$558.32	$627.87	$133,370.04
29	$133,370.04	$555.71	$630.48	$132,739.56
30	$132,739.56	$553.08	$633.11	$132,106.45
31	$132,106.45	$550.44	$635.75	$131,470.70
32	$131,470.70	$547.79	$638.40	$130,832.31
33	$130,832.31	$545.13	$641.06	$130,191.25
34	$130,191.25	$542.46	$643.73	$129,547.53
35	$129,547.53	$539.78	$646.41	$128,901.12
36	$128,901.12	$537.09	$649.10	$128,252.02
Year 3 End
37	$128,252.02	$534.38	$651.81	$127,600.21
38	$127,600.21	$531.67	$654.52	$126,945.69
39	$126,945.69	$528.94	$657.25	$126,288.44
40	$126,288.44	$526.20	$659.99	$125,628.45
41	$125,628.45	$523.45	$662.74	$124,965.71
42	$124,965.71	$520.69	$665.50	$124,300.21
43	$124,300.21	$517.92	$668.27	$123,631.94
44	$123,631.94	$515.13	$671.06	$122,960.88
45	$122,960.88	$512.34	$673.85	$122,287.03
46	$122,287.03	$509.53	$676.66	$121,610.37
47	$121,610.37	$506.71	$679.48	$120,930.89
48	$120,930.89	$503.88	$682.31	$120,248.58
Year 4 End
49	$120,248.58	$501.04	$685.15	$119,563.42
50	$119,563.42	$498.18	$688.01	$118,875.41
51	$118,875.41	$495.31	$690.88	$118,184.54
52	$118,184.54	$492.44	$693.75	$117,490.78
53	$117,490.78	$489.54	$696.65	$116,794.14
54	$116,794.14	$486.64	$699.55	$116,094.59
55	$116,094.59	$483.73	$702.46	$115,392.13
56	$115,392.13	$480.80	$705.39	$114,686.74
57	$114,686.74	$477.86	$708.33	$113,978.41
58	$113,978.41	$474.91	$711.28	$113,267.13
59	$113,267.13	$471.95	$714.24	$112,552.89
60	$112,552.89	$468.97	$717.22	$111,835.67
Year 5 End
61	$111,835.67	$465.98	$720.21	$111,115.46
62	$111,115.46	$462.98	$723.21	$110,392.25
63	$110,392.25	$459.97	$726.22	$109,666.03
64	$109,666.03	$456.94	$729.25	$108,936.78
65	$108,936.78	$453.90	$732.29	$108,204.49
66	$108,204.49	$450.85	$735.34	$107,469.15
67	$107,469.15	$447.79	$738.40	$106,730.75
68	$106,730.75	$444.71	$741.48	$105,989.27
69	$105,989.27	$441.62	$744.57	$105,244.71
70	$105,244.71	$438.52	$747.67	$104,497.04
71	$104,497.04	$435.40	$750.79	$103,746.25
72	$103,746.25	$432.28	$753.91	$102,992.34
Year 6 End
73	$102,992.34	$429.13	$757.06	$102,235.28
74	$102,235.28	$425.98	$760.21	$101,475.07
75	$101,475.07	$422.81	$763.38	$100,711.69
76	$100,711.69	$419.63	$766.56	$99,945.14
77	$99,945.14	$416.44	$769.75	$99,175.38
78	$99,175.38	$413.23	$772.96	$98,402.42
79	$98,402.42	$410.01	$776.18	$97,626.24
80	$97,626.24	$406.78	$779.41	$96,846.83
81	$96,846.83	$403.53	$782.66	$96,064.17
82	$96,064.17	$400.27	$785.92	$95,278.25
83	$95,278.25	$396.99	$789.20	$94,489.05
84	$94,489.05	$393.70	$792.49	$93,696.56
Year 7 End
85	$93,696.56	$390.40	$795.79	$92,900.78
86	$92,900.78	$387.09	$799.10	$92,101.67
87	$92,101.67	$383.76	$802.43	$91,299.24
88	$91,299.24	$380.41	$805.78	$90,493.46
89	$90,493.46	$377.06	$809.13	$89,684.33
90	$89,684.33	$373.68	$812.51	$88,871.82
91	$88,871.82	$370.30	$815.89	$88,055.93
92	$88,055.93	$366.90	$819.29	$87,236.64
93	$87,236.64	$363.49	$822.70	$86,413.94
94	$86,413.94	$360.06	$826.13	$85,587.81
95	$85,587.81	$356.62	$829.57	$84,758.23
96	$84,758.23	$353.16	$833.03	$83,925.20
Year 8 End
97	$83,925.20	$349.69	$836.50	$83,088.70
98	$83,088.70	$346.20	$839.99	$82,248.71
99	$82,248.71	$342.70	$843.49	$81,405.23
100	$81,405.23	$339.19	$847.00	$80,558.22
101	$80,558.22	$335.66	$850.53	$79,707.69
102	$79,707.69	$332.12	$854.07	$78,853.62
103	$78,853.62	$328.56	$857.63	$77,995.99
104	$77,995.99	$324.98	$861.21	$77,134.78
105	$77,134.78	$321.39	$864.80	$76,269.98
106	$76,269.98	$317.79	$868.40	$75,401.59
107	$75,401.59	$314.17	$872.02	$74,529.57
108	$74,529.57	$310.54	$875.65	$73,653.92
Year 9 End
109	$73,653.92	$306.89	$879.30	$72,774.62
110	$72,774.62	$303.23	$882.96	$71,891.66
111	$71,891.66	$299.55	$886.64	$71,005.02
112	$71,005.02	$295.85	$890.34	$70,114.68
113	$70,114.68	$292.14	$894.05	$69,220.64
114	$69,220.64	$288.42	$897.77	$68,322.86
115	$68,322.86	$284.68	$901.51	$67,421.35
116	$67,421.35	$280.92	$905.27	$66,516.09
117	$66,516.09	$277.15	$909.04	$65,607.05
118	$65,607.05	$273.36	$912.83	$64,694.22
119	$64,694.22	$269.56	$916.63	$63,777.59
120	$63,777.59	$265.74	$920.45	$62,857.14
Year 10 End
121	$62,857.14	$261.90	$924.29	$61,932.85
122	$61,932.85	$258.05	$928.14	$61,004.72
123	$61,004.72	$254.19	$932.00	$60,072.71
124	$60,072.71	$250.30	$935.89	$59,136.83
125	$59,136.83	$246.40	$939.79	$58,197.04
126	$58,197.04	$242.49	$943.70	$57,253.34
127	$57,253.34	$238.56	$947.63	$56,305.70
128	$56,305.70	$234.61	$951.58	$55,354.12
129	$55,354.12	$230.64	$955.55	$54,398.57
130	$54,398.57	$226.66	$959.53	$53,439.04
131	$53,439.04	$222.66	$963.53	$52,475.51
132	$52,475.51	$218.65	$967.54	$51,507.97
Year 11 End
133	$51,507.97	$214.62	$971.57	$50,536.40
134	$50,536.40	$210.57	$975.62	$49,560.78
135	$49,560.78	$206.50	$979.69	$48,581.09
136	$48,581.09	$202.42	$983.77	$47,597.32
137	$47,597.32	$198.32	$987.87	$46,609.45
138	$46,609.45	$194.21	$991.98	$45,617.47
139	$45,617.47	$190.07	$996.12	$44,621.35
140	$44,621.35	$185.92	$1,000.27	$43,621.09
141	$43,621.09	$181.75	$1,004.44	$42,616.65
142	$42,616.65	$177.57	$1,008.62	$41,608.03
143	$41,608.03	$173.37	$1,012.82	$40,595.21
144	$40,595.21	$169.15	$1,017.04	$39,578.16
Year 12 End
145	$39,578.16	$164.91	$1,021.28	$38,556.88
146	$38,556.88	$160.65	$1,025.54	$37,531.35
147	$37,531.35	$156.38	$1,029.81	$36,501.54
148	$36,501.54	$152.09	$1,034.10	$35,467.44
149	$35,467.44	$147.78	$1,038.41	$34,429.03
150	$34,429.03	$143.45	$1,042.74	$33,386.29
151	$33,386.29	$139.11	$1,047.08	$32,339.21
152	$32,339.21	$134.75	$1,051.44	$31,287.77
153	$31,287.77	$130.37	$1,055.82	$30,231.94
154	$30,231.94	$125.97	$1,060.22	$29,171.72
155	$29,171.72	$121.55	$1,064.64	$28,107.08
156	$28,107.08	$117.11	$1,069.08	$27,038.00
Year 13 End
157	$27,038.00	$112.66	$1,073.53	$25,964.47
158	$25,964.47	$108.19	$1,078.00	$24,886.46
159	$24,886.46	$103.69	$1,082.50	$23,803.97
160	$23,803.97	$99.18	$1,087.01	$22,716.96
161	$22,716.96	$94.65	$1,091.54	$21,625.43
162	$21,625.43	$90.11	$1,096.08	$20,529.34
163	$20,529.34	$85.54	$1,100.65	$19,428.69
164	$19,428.69	$80.95	$1,105.24	$18,323.45
165	$18,323.45	$76.35	$1,109.84	$17,213.61
166	$17,213.61	$71.72	$1,114.47	$16,099.14
167	$16,099.14	$67.08	$1,119.11	$14,980.03
168	$14,980.03	$62.42	$1,123.77	$13,856.26
Year 14 End
169	$13,856.26	$57.73	$1,128.46	$12,727.81
170	$12,727.81	$53.03	$1,133.16	$11,594.65
171	$11,594.65	$48.31	$1,137.88	$10,456.77
172	$10,456.77	$43.57	$1,142.62	$9,314.15
173	$9,314.15	$38.81	$1,147.38	$8,166.77
174	$8,166.77	$34.03	$1,152.16	$7,014.61
175	$7,014.61	$29.23	$1,156.96	$5,857.64
176	$5,857.64	$24.41	$1,161.78	$4,695.86
177	$4,695.86	$19.57	$1,166.62	$3,529.24
178	$3,529.24	$14.71	$1,171.48	$2,357.75
179	$2,357.75	$9.82	$1,176.37	$1,181.39
180	$1,181.27	$4.92	$1,181.27	$0.00
Year 15 End

Result
Payoff	10 years, 10 months
Monthly payment	$2,000.00
Total payments	$259,256.94
Total Interest	$59,256.94

What is an Online Payment Calculator?

An Online Payment Calculator is a financial tool that helps you calculate the monthly payments for loans or mortgages, based on various factors such as the loan amount (principal), interest rate, term (loan duration), and other related parameters. This calculator is often used for personal loans, home loans, auto loans, and credit card payments to help users understand how much they need to pay regularly to repay the loan over time. It helps individuals or businesses make informed decisions about borrowing money and managing repayments.

How to Use an Online Payment Calculator?

Choose the Loan Type:
- Depending on the type of loan you have (personal loan, home mortgage, car loan, etc.), select the appropriate calculator.
Input Loan Information:
- Enter the required details such as:
  - Loan amount (principal): The total amount you are borrowing.
  - Interest rate: The annual interest rate of the loan.
  - Loan term: The duration for which you will repay the loan (e.g., 15 years, 30 years, etc.).
  - Payment frequency (optional): Monthly, bi-weekly, etc.
Select the Payment Method (optional):
- Some calculators allow you to select whether payments will be made on a fixed rate or adjustable terms.
Click "Calculate":
- After entering all the necessary information, click the "Calculate" button.
View the Results:
- The calculator will display the estimated monthly payment, the total interest paid over the loan term, and sometimes a payment breakdown or amortization schedule.

Frequently Asked Questions-

What types of loans can I calculate payments for with an online payment calculator?
- Online payment calculators can be used for various types of loans, including personal loans, home mortgages, car loans, student loans, and credit cards. Some calculators are specifically designed for certain types of loans, while others can handle multiple loan types.
How does the interest rate affect my monthly payments?
- The higher the interest rate, the higher your monthly payments will be. This is because interest is charged on the loan balance, and a higher rate increases the total cost of borrowing. Similarly, lowering the interest rate will decrease your monthly payments.
Can I use an online payment calculator to find out how much I will pay in total for a loan?
- Yes, an online payment calculator will show you your monthly payment and, in many cases, provide a total cost breakdown, including how much interest you will pay over the life of the loan. This can help you understand the full financial impact of the loan.
Can I calculate payments for a loan with a variable interest rate?
- Some online payment calculators support variable interest rates, but many are designed for loans with fixed rates. If your loan has a variable rate, the calculator may provide estimates based on the current interest rate, though it won't predict future rate changes.
Are online payment calculators accurate?
- Yes, online payment calculators provide accurate estimates based on the information you input. However, actual payment amounts may vary slightly based on lender fees, taxes, or changes in interest rates for loans with variable terms. It’s always best to check with your lender for the exact details.