If you know any 3 of the following 4 loan terms this calculator will use Time Value of Money (TVM) calculations to find the missing term.
- Interest rate
- Monthly payment
- Number of payments remaining
The most common use for this calculator is to calculate a loan payoff amount. After all, you usually know the interest rate, the number of payments remaining, and the monthly payment. What's not always clear is how much money it will take to pay off a loan this month.
That's because the payoff amount cannot be arrived at by simply multiplying the monthly payment amount by the number of payments remaining, since future payments include interest charges that will not apply if the loan is paid off early.
Note that if you would like the option to create and print a schedule of payments, please visit the Free Loan Amortization Calculator , which also solves for an unknown variable.