Amortization calculator

Amortization is the process of repaying a loan in equal, monthly payments. This calculator lets you estimate your monthly loan repayments. The calculator will produce a full explanation of how the computation was carried out.

What will your monthly loan payment be?
help ↓↓ examples ↓↓

I want to find:

Input known variables:

Loan amount($):

Loan term:

Interest rate: % per year.

Monthly payments ($): per month.

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Examples

ex 1:

What is the monthly payment on a mortgage of $12,000 with an annual interest rate of 5.5% that runs for 10 years?

ex 2:

What is the original value of a mortgage if it is amortized over 10 months at 7% interest and $25.3 monthly payments?

ex 3:

You wish to take out a $50000 mortgage with monthly payments of 4.5%, and you can afford $550 per month. How long would it take for you to pay off the mortgage?

ex 4:

What is the interest rate on a $23,000 mortgage with $350 monthly payments for ten years?

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