Finance
Loan Payment (Amortized)
Monthly payment on an amortized loan.
Formula
Formula
M = P·r1 − (1 + r)−n
Variables
| Symbol | Definition | Type & range | Units | Role |
|---|---|---|---|---|
| P | principal | real number (ℝ) | — | input |
| r | monthly rate | real number (ℝ) | — | input |
| n | number of months | computed result | — | result |
Try it yourself
Interactive calculator
Worked examples
Example 1
Givenprincipal = 200000, annual rate (%) = 6, years = 30
Result1199.10105
Example 2
Givenprincipal = 25000, annual rate (%) = 5, years = 5
Result471.7808411