Loan Payment Calculator

Calculate the fixed monthly payment on a fully amortizing loan given principal, annual interest rate, and term in years.

Inputs

M = P × [i(1+i)^k] / [(1+i)^k − 1]

i = monthly rate (annual/12/100), k = months (years×12). If rate is 0, payment is P/k.

Category: Finance

Monthly payment ≈ $1,580.17.