Figure Loan Payments Calculator with Interest Cost and Work Hours

Figure Loan Payments Calculator Sign

This calculator will calculate the periodic payment amount, the interest cost, and the work hours required to pay back a loan.

The calculator also allows you to choose your preferred payment frequency, and the results include an optional payment schedule.

If you would like a side-by-side comparison of up to four different loans, please visit the Fixed Payment Loan Comparison Calculator.

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Figure Loan Payments Calculator

Calculate periodic loan payment, plus the interest cost and the number of work-hours required to make all of the payments.

Special Instructions

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Loan amt:Loan amount:Amount you are looking to borrow:Amount you are looking to borrow:

Amount you are looking to borrow:

Enter the amount you are looking to borrow, otherwise referred to as Principal. Enter as a dollar amount, but without the dollar sign and any commas.

Rate:Interest rate:Annual interest rate:Annual interest rate of the loan:

Annual interest rate of the loan:

Enter the annual interest rate you will be charged for the loan. Enter as a percentage but without the percent sign (for .06 or 6%, enter 6).

# years:Number of years:Number of years:Number of years:

Number of years:

Enter the number of years you would like to spread your payments over. The longer you take to pay back the loan, the more of your hard earned money will go toward paying interest charges to the lender.

Pmt freq:Pmt frequency:Loan payment frequency:Loan payment frequency:

Loan payment frequency:

Select the payment frequency you would like to use for repaying the loan.

Date of first payment:

Date of first payment:

Select the month, day, and year you plan to make your first payment. The calculator will use this date to create a payment schedule should you choose to have one included in the results.

Schedule?Include schedule?Include payment schedule?Include payment schedule?

Include payment schedule?

If you would like the results to include the payment schedule, slide the button to the "Yes" position. If not, slide the button to the "No" position.

Hourly wageReal hourly wageOptional: Real hourly wageOptional: Real hourly wage:

Real hourly wage:

Optional: If you would like to see how many hours you will need to work in order to earn the after-tax, after-work-expense income needed to pay back this loan, enter your real hourly wage here (clicking link opens new window with Real Hourly Wage Calculator).

Pmt amt:Payment amount:Loan payment amount:Loan payment amount:

Loan payment amount:

Based on your entries, this is how much your payment will be for the interval you selected.

Interest:Interest cost:Interest cost:Interest cost:

Interest cost:

Based on your entries, this is how much interest you will pay between now and when you make your final payment.

Work hours:Work hours:Work hours to pay back loan:Work hours to pay back the borrowed funds:

Work hours to pay back the borrowed funds:

Based on your entries, this is how many hours you will need to allocate to working in order to earn the after-tax, after-work-expense income to pay back this loan.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Help and Tools


Of what you are giving up before you sign on the dotted line.

Crossing a High-Speed Intersection

Imagine you are standing at the corner of a high-speed, two-way intersection. Would you check traffic in only one direction before deciding to walk across? Of course not.

But financially speaking, that's how millions of people approach their financial decisions every day. How so? Because they focus on what they will get with their purchases without considering what they might be giving up.

Sure, you might get lucky the first few times you "cross the street," but eventually you're going to get blind-sided by the negative financial consequences you failed to see coming.

What Am I Giving Up?

If you are considering a purchase that is large enough to require taking out a loan, please consider the following "hidden" costs of going ahead with the purchase.

  • How many hours will I need to allocate to work to pay off this purchase?
  • How much passive investment income could I earn if I invest the money instead of using it to make this purchase?
  • Can I afford to set aside the funds needed to license, maintain, repair, fuel, insure, store, and replace this purchase so I won't get blindsided by these costs in the future?

Life is a lot more predictable than we care to admit. If you fail to accurately answer the above questions before going ahead with the purchase, you will likely be creating "unexpected" financial emergencies for yourself in the future.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.