Repayment Calculator
Find the payment to repay a balance in a set time, or how long a set payment takes.
Change the values and press Calculate to work out your own figures.
Payment for a time
Enter the amount, rate and term.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $926.96 | $1,622.68 | $8,377.32 |
| 2 | $757.06 | $1,792.58 | $6,584.74 |
| 3 | $569.35 | $1,980.29 | $4,604.45 |
| 4 | $361.98 | $2,187.66 | $2,416.79 |
| 5 | $132.91 | $2,416.79 | $0.00 |
Show the working
- payment = P × i ÷ (1 − (1 + i)^−n)
- each payment: interest = balance × i (to the cent), the rest repays principal
Time for a payment
Enter the balance, payment and rate.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $934.02 | $1,465.98 | $8,534.02 |
| 2 | $780.52 | $1,619.48 | $6,914.54 |
| 3 | $610.93 | $1,789.07 | $5,125.47 |
| 4 | $423.58 | $1,976.42 | $3,149.05 |
| 5 | $216.62 | $2,183.38 | $965.67 |
| 6 | $24.11 | $965.67 | $0.00 |
Show the working
- each month: interest = balance × rate ÷ 12 (to the cent); the rest of the payment reduces the balance
How to use it
Enter the amount, rate and term. Enter the balance, payment and rate.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
payment = P × i ÷ (1 − (1 + i)^−n)
Questions
How much a month repays $10,000 at 10% in 5 years?
$212.47.
Formulas
payment = P × i ÷ (1 − (1 + i)^−n)
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.