How to use
Enter principal, annual interest percent, and term in months. Calculate shows the payment, totals, and schedule. Use the figures as estimates only.
Example
A zero interest rate divides the principal evenly across the months. This is a simple fixed installment model, not a bank quote.
Input
Principal 10000, annual rate 6%, 24 monthsOutput
Monthly payment, total interest, total paid, and a row per periodHow it works
The monthly rate is the annual percent divided by 12 and by 100. Payment uses the standard annuity formula. Each row splits interest and principal and reduces the balance. The last row absorbs remaining cents from rounding.
Common errors
- Rate 0 still failed A zero rate is supported; check that months is at least 1 and principal is positive.
- Months 0 was refused Enter a whole number of months of at least 1.
- You expected fees or ARM rates This calculator models a fixed rate and no fees.
Limitations
Taxes, insurance, compounding conventions other than monthly, and early payoff scenarios are not modeled. Rounding may differ from a lender by a few cents.
Privacy
The text you paste is processed in your browser. PepsTools does not receive it, store it, or send it to another service.
Questions
Are the numbers sent to a lender?
No. The schedule is calculated in your browser only.