Loan Payment Calculator
Enter the amount borrowed, the annual interest rate and the term to estimate the monthly payment on an amortised loan.
Loan Payment Calculator — enter your values
Monthly payment
$489.15
- Total repaid
- $29,349.22
- Total interest
- $4,349.22
- Number of payments
- 60
Calculation
- Payment = P·i ÷ (1 − (1 + i)^−n) with i = 0.00541667 and n = 60
About this estimate
The standard amortisation formula assumes a fixed rate and equal monthly payments. Fees, insurance and rate changes are not included.