Loan Calculator
Estimate fixed monthly principal and interest payments and total borrowing cost.
Money & Planning · FREE TO USE
Fixed Payment Debt Payoff Scenario
Compare a monthly payment with modeled interest and inspect the repayment schedule.
02EXAMPLE RESULT
Months to repay
26
Remaining balance0.00USD
Total modeled interest1,449.37USD
Total payments6,449.37USD
Results update as you type. Calculate adds a snapshot to your history.
Inspect the monthly scenario
All money columns use the same currency. This models operating profit and cumulative surplus, with the exclusions stated below.
| Month | Interest | Payment | Balance |
|---|---|---|---|
| 1 | 100.00 | 250.00 | 4850.00 |
| 2 | 97.00 | 250.00 | 4697.00 |
| 3 | 93.94 | 250.00 | 4540.94 |
| 4 | 90.82 | 250.00 | 4381.76 |
| 5 | 87.64 | 250.00 | 4219.40 |
| 6 | 84.39 | 250.00 | 4053.79 |
| 7 | 81.08 | 250.00 | 3884.87 |
| 8 | 77.70 | 250.00 | 3712.57 |
| 9 | 74.25 | 250.00 | 3536.82 |
| 10 | 70.74 | 250.00 | 3357.56 |
| 11 | 67.15 | 250.00 | 3174.71 |
| 12 | 63.49 | 250.00 | 2988.20 |
| 13 | 59.76 | 250.00 | 2797.96 |
| 14 | 55.96 | 250.00 | 2603.92 |
| 15 | 52.08 | 250.00 | 2406.00 |
| 16 | 48.12 | 250.00 | 2204.12 |
| 17 | 44.08 | 250.00 | 1998.20 |
| 18 | 39.96 | 250.00 | 1788.16 |
| 19 | 35.76 | 250.00 | 1573.92 |
| 20 | 31.48 | 250.00 | 1355.40 |
| 21 | 27.11 | 250.00 | 1132.51 |
| 22 | 22.65 | 250.00 | 905.16 |
| 23 | 18.10 | 250.00 | 673.26 |
| 24 | 13.47 | 250.00 | 436.73 |
| 25 | 8.73 | 250.00 | 195.46 |
| 26 | 3.91 | 199.37 | 0.00 |
How this calculation works
One fixed-rate balance, no new spending or fees, and one payment at each month end. Interest rounds to the currency’s minor unit each month. Real cards may use daily balances, variable APRs, minimum-payment rules and promotional periods. This does not predict a credit score, erase accurate credit history or settle a debt.
Monthly interest = round(opening balance × nominal APR / 1200). Payment occurs after interest; the final payment is capped at the amount owed.
Your calculation, step by step
- Round modeled monthly interest to the currency’s minor unit.
- Apply the payment after interest and cap the final payment.
- Stop at the target or bounded horizon.
A worked example
At 0% interest, a balance of 1,000 and a payment of 300 takes four payments: 300, 300, 300 and 100.
Work through an example.
Inspect the assumptions and limits before applying a result.