Payment Calculator
Last updated: July 2026 · Free · No sign-up required
Enter values above and click Calculate to see your result instantly.
Quick reference
Monthly payment per $1,000 borrowed:
| APR | 2 yr | 4 yr | 6 yr |
|---|---|---|---|
| 4% | $43.42 | $22.58 | $15.65 |
| 7% | $44.77 | $23.95 | $17.05 |
| 10% | $46.14 | $25.36 | $18.53 |
| 13% | $47.54 | $26.83 | $20.07 |
savings Plan with confidence
Finance decisions get a lot easier when you can see the full picture. Enter your numbers above to see total payments, interest paid, and the long-term cost of every choice — so you can compare options side by side before signing anything.
percent How the math works
We use the standard amortization, compound-interest and present-value formulas published by the Consumer Financial Protection Bureau and the Federal Reserve. The methodology block below shows every variable and rounding step we apply, so the answer is never a black box.
shield_lock Your data stays private
Every calculation happens in your browser with JavaScript — your income, balances, and loan numbers are never sent to our servers, logged, or shared. Close the tab and the inputs vanish. No sign-up, no tracking pixels on the form, no spreadsheet emailed to you later.
lightbulb Pro tip
Save the URL after you calculate — your inputs aren't stored, so write down the headline number plus the breakdown. Then come back and edit one variable at a time (down payment, rate, term) to see exactly which lever moves your monthly figure the most. That's where the real planning happens.
Interpretation guide
What changes your payment:
| Lever | Effect on monthly payment |
|---|---|
| Longer term | Lower payment, more total interest |
| Higher APR | Higher payment and total cost |
| Larger down payment | Smaller balance, lower payment |
| Extra principal | Shortens term, cuts interest |
Formula & methodology
Formula: M = P x r / (1 - (1 + r)^-n), where r = APR/12 and n = months
The payment uses the standard amortizing-loan formula: each fixed payment covers that month's interest first, and the remainder reduces principal. Early payments are mostly interest; later payments are mostly principal. The calculator returns the level monthly payment, total of payments, and total interest so you can compare offers by true cost, not just the headline rate.