Standard Loan Payment Schedule Calculator

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This calculator determines a payment amount and produces a payment schedule for a standard loan.

Example

What is the monthly payment for a $10,000 loan with a term of five years, paying 10% interest?

Field Input
Loan amount $10,000
Payments per year 12
Years of payments 5
Annual interest rate 10%
Compounded Payment Date

In this example, the monthly payment is $212.47.

Notes

  • The compounded daily calculation uses 365 days. The other option for compounding interest is each payment date.
  • The difference between the interest rate and the effective interest rate is caused by the compounding of interest.

Copying and pasting loan payment schedules into Microsoft Excel or other applications

View this procedure to find out how you can copy loan payment schedules from this calculator to the system clipboard, and then paste them into Microsoft Excel or other applications.

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