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Loan Payment Calculator
Calculate monthly loan payments based on loan amount, interest rate, and term.
Estimated Monthly Payment
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How it works
Use this calculator to estimate monthly loan payments based on the loan amount, interest rate, and repayment term.
Formula
Monthly Payment = P × r × (1 + r)^n ÷ ((1 + r)^n - 1)
Where:
- P = loan amount
- r = monthly interest rate
- n = total number of monthly payments
Example
If the loan amount is 100000, the annual interest rate is 12%, and the term is 5 years:
- Monthly rate = 1%
- Total payments = 60
- Estimated monthly payment = calculated automatically
Why it matters
Loan payments affect cash flow and affordability. This calculator helps you plan financing decisions more clearly.
Common use cases
- Business financing
- Vehicle loans
- Equipment purchases
- Personal budgeting