Loan Repayment Calculator
Given your balance and rate, pick either a target payoff term OR a monthly payment you can afford — we solve for the other and show the full repayment picture.
Inputs
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $246.22 | $186.22 | $60.00 | $11,813.78 |
| 2 | $246.22 | $187.15 | $59.07 | $11,626.64 |
| 3 | $246.22 | $188.08 | $58.13 | $11,438.56 |
| 4 | $246.22 | $189.02 | $57.19 | $11,249.53 |
| 5 | $246.22 | $189.97 | $56.25 | $11,059.56 |
| 6 | $246.22 | $190.92 | $55.30 | $10,868.65 |
| 7 | $246.22 | $191.87 | $54.34 | $10,676.77 |
| 8 | $246.22 | $192.83 | $53.38 | $10,483.94 |
| 9 | $246.22 | $193.80 | $52.42 | $10,290.15 |
| 10 | $246.22 | $194.76 | $51.45 | $10,095.38 |
| 11 | $246.22 | $195.74 | $50.48 | $9,899.64 |
| 12 | $246.22 | $196.72 | $49.50 | $9,702.92 |
| 13 | $246.22 | $197.70 | $48.51 | $9,505.22 |
| 14 | $246.22 | $198.69 | $47.53 | $9,306.53 |
| 15 | $246.22 | $199.68 | $46.53 | $9,106.85 |
| 16 | $246.22 | $200.68 | $45.53 | $8,906.17 |
| 17 | $246.22 | $201.68 | $44.53 | $8,704.48 |
| 18 | $246.22 | $202.69 | $43.52 | $8,501.79 |
| 19 | $246.22 | $203.71 | $42.51 | $8,298.08 |
| 20 | $246.22 | $204.73 | $41.49 | $8,093.36 |
| 21 | $246.22 | $205.75 | $40.47 | $7,887.61 |
| 22 | $246.22 | $206.78 | $39.44 | $7,680.83 |
| 23 | $246.22 | $207.81 | $38.40 | $7,473.02 |
| 24 | $246.22 | $208.85 | $37.37 | $7,264.17 |
| 25 | $246.22 | $209.89 | $36.32 | $7,054.28 |
| 26 | $246.22 | $210.94 | $35.27 | $6,843.33 |
| 27 | $246.22 | $212.00 | $34.22 | $6,631.33 |
| 28 | $246.22 | $213.06 | $33.16 | $6,418.27 |
| 29 | $246.22 | $214.12 | $32.09 | $6,204.15 |
| 30 | $246.22 | $215.19 | $31.02 | $5,988.95 |
| 31 | $246.22 | $216.27 | $29.94 | $5,772.68 |
| 32 | $246.22 | $217.35 | $28.86 | $5,555.33 |
| 33 | $246.22 | $218.44 | $27.78 | $5,336.89 |
| 34 | $246.22 | $219.53 | $26.68 | $5,117.36 |
| 35 | $246.22 | $220.63 | $25.59 | $4,896.73 |
| 36 | $246.22 | $221.73 | $24.48 | $4,675.00 |
| 37 | $246.22 | $222.84 | $23.38 | $4,452.16 |
| 38 | $246.22 | $223.95 | $22.26 | $4,228.20 |
| 39 | $246.22 | $225.07 | $21.14 | $4,003.13 |
| 40 | $246.22 | $226.20 | $20.02 | $3,776.93 |
| 41 | $246.22 | $227.33 | $18.88 | $3,549.60 |
| 42 | $246.22 | $228.47 | $17.75 | $3,321.13 |
| 43 | $246.22 | $229.61 | $16.61 | $3,091.52 |
| 44 | $246.22 | $230.76 | $15.46 | $2,860.76 |
| 45 | $246.22 | $231.91 | $14.30 | $2,628.85 |
| 46 | $246.22 | $233.07 | $13.14 | $2,395.78 |
| 47 | $246.22 | $234.24 | $11.98 | $2,161.54 |
| 48 | $246.22 | $235.41 | $10.81 | $1,926.14 |
| 49 | $246.22 | $236.59 | $9.63 | $1,689.55 |
| 50 | $246.22 | $237.77 | $8.45 | $1,451.78 |
| 51 | $246.22 | $238.96 | $7.26 | $1,212.83 |
| 52 | $246.22 | $240.15 | $6.06 | $972.67 |
| 53 | $246.22 | $241.35 | $4.86 | $731.32 |
| 54 | $246.22 | $242.56 | $3.66 | $488.76 |
| 55 | $246.22 | $243.77 | $2.44 | $244.99 |
| 56 | $246.22 | $244.99 | $1.22 | $0.00 |
How it works
Both modes come from the same amortization identity. To solve for payment given term we use PMT = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1). To solve for term given payment we invert to n = −ln(1 − P·r/PMT) / ln(1 + r) and round up so the last payment is a stub.
Frequently asked questions
What if my payment is too low?
If your monthly payment is less than the monthly interest (balance × rate ÷ 12), the balance grows instead of shrinking. This is called negative amortization. Raise the payment above that threshold.
How do I pick a good term?
Pick the shortest term where the monthly payment is comfortably below 15–20% of your take-home pay. Shorter terms save enormous interest.
Does this work for any loan?
Yes — any fixed-rate, fully-amortizing loan: personal, auto, student, mortgage. Not credit cards where the minimum floats.
How is 'months to payoff' derived?
From the closed-form formula n = −ln(1 − Pr/PMT) / ln(1 + r). It gives the exact number of payments needed; we round up to a whole month.
Can I add extra payments?
Use our Extra Payment or Early Payoff calculators. This one focuses on the level-payment case for the base plan.