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# 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.

Amortization calculator
How much will your monthly loan payment be?
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Examples
example 1: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? example 2: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?
example 3: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?
example 4:ex 4:
What is the interest rate on a $23,000 mortgage with$350 monthly payments for ten years?
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