Skip to content
CalculatorBuddy

Repayment Calculator

Find the installment needed to repay a debt within a fixed term, or the payoff length for a fixed installment.

Repay within a fixed time

ExampleSample values — edit any field to see your result.

$
%

Payment

$212.47

Estimated result

Pay Back
Every Month
Number of Payments
60
Repayment Length
5 years
Total Payments
$12,748.23
Interest
$2,748.23

Principal vs interest

Principal 78%, Interest 22%
  • Principal78%
  • Interest22%

Amortization Table

PeriodInterestPrincipalBalance
Year 1$926.96$1,622.68$8,377.32
Year 2$757.05$1,792.60$6,584.72
Year 3$569.34$1,980.31$4,604.42
Year 4$361.98$2,187.67$2,416.75
Year 5$132.90$2,416.75$0.00
Payment$212.47
Calculate a payment from a fixed repayment term, or enter an installment to estimate the payoff time. The schedule supports daily through annual payments and nine compounding choices.

Formula

For a periodic rate r, principal P, and n payments, the level installment is P × r / (1 − (1 + r)^−n). The fixed-installment mode rearranges the same amortization relationship to solve the number of payments.

Examples

Five-year repayment

A $10,000 balance at 10% compounded monthly requires about $212.47 per month for 60 months. Total payments are about $12,748.23.

Frequently asked questions

What does the repayment calculator solve?
It can solve either the installment required for a chosen term or the time required to clear a balance with a chosen installment.
Why does compounding frequency matter?
The nominal annual rate is converted at its compounding frequency before it is matched to the payment schedule, so different combinations can produce different effective rates.
Why can a fixed installment be rejected?
A payment must exceed the interest accruing in each period. Otherwise the balance never decreases.

Related calculators