Formula
Monthly payment = P × r(1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate and n is number of payments.
Limitations
This estimate assumes a fixed rate and equal monthly payments. It excludes lender fees, taxes, insurance, penalties and variable-rate changes.
References
- Calculator.net Loan Calculator - competitor benchmark, accessed 2026-05-13.
Last reviewed: 2026-05-13