Repayment Calculator - Calculator See


Repayment Calculator

Calculate fixed installment loan repayments, amortization schedules, and the impact of extra principal payments.

Calculator Inputs

$
Financed amount.
%
Annual loan interest rate.
yrs
Term duration (3 yrs = 36 mos).

Calculated Results

Monthly Loan Repayment
$348.33 / month
Total Repayment Over Life $12,539.88
Total Finance Charges $2,539.88
Annual Equivalent Rate 9.00% APR
Values calculate live as you adjust inputs.

About Repayment Calculator

Computes amortized periodic loan installments where each equal payment covers interest and steadily reduces principal.

What is Repayment Calculator?

Computes amortized periodic loan installments where each equal payment covers interest and steadily reduces principal.

How to Use This Calculator

  1. Enter loan principal.
  2. Set interest rate and loan duration.
  3. View monthly repayment and total cost of financing.

The Mathematical Formula & Variables

PMT = P * [r*(1+r)^n] / [(1+r)^n - 1]

Step-by-Step Worked Example

Scenario: $10,000 borrowed at 9.0% for 3 years (36 months).

  1. r = 0.09 / 12 = 0.0075; n = 36.
  2. (1.0075)^36 = 1.308645.
  3. PMT = 10000 * (0.0075 * 1.308645) / 0.308645 = $317.996 -> $318.00.

Result: $318.00 / month

Frequently Asked Questions

How do extra payments accelerate loan payoff?

Extra payments bypass interest and go 100% directly toward reducing the principal balance, permanently lowering future interest calculations.