Payment Formula: Monthly Payment = PMT( Annual Interest Rate, Number of Monthly Payments, Loan Amount, 0)
Payment Definition The free online payment calculator makes calculating your monthly payment extremely easy. Learning how to calculate your monthly payment for a loan is as simple and straightforward as entering in the inputs of annual interest rate, number of monthly payments, and the loan amount. That’s it! Get started using the free monthly payment calculator now! You might also be interested in the Advanced Loan Payment calculator and the Extra Payment Calculator.
How to Calculate Payment Let's be honest - sometimes the best payment calculator is the one that is easy to use and doesn't require us to even know what the payment formula is in the first place! But if you want to know the exact formula for calculating payment then please check out the "Formula" box above.