Example 1
- Amount: 50,000
- Rate: 12%
- Term: 5 years
Payment 1,112.22
Total 66,733.40
Interest 16,733.40
Loan calculator: 50,000 at 12% for 5 years → payment 1,112.22; interest 16,733.40.
Loan Calculator
This calculator gives the monthly payment on a cash loan, the interest you pay back, how much you can borrow at a payment you can afford, and how much interest extras save. At 50,000, 12%, and 5 years, the monthly payment is 1,112.22. Interest is 16,733.40 — about 25% of the 66,733.40 you pay back.
Result
The result appears here when you enter amount, rate, and years.
Fixed-rate payment. Leave Loan amount blank to see how much you can borrow at a payment you can make. Extras and fees are under Additional options. Full table: amortization schedule. This is a planning estimate, not a credit decision.
How results are calculated
Amount50,000
Rate12%
Years5
Payment1,112.22
Interest16,733.40
The loan payment calculator computes a fixed payment — an annuity — from the amount, the annual rate, and the term in years. At 50,000, 12%, and 5 years with monthly payments, the payment is 1,112.22. Sixty payments total 66,733.40. Interest is 16,733.40, about 25% of what you pay back. At 20,000, 9.5%, and 3 years the payment is 640.66 and interest is 3,063.72. A shorter term cuts interest more than a smaller principal alone.
Leave Loan amount blank and enter Payment I can make when you want to know how much you can borrow at that payment. At 400 a month, 9.5%, and 3 years the calculator solves about 12,487. That is the present value of equal payments, not a lender’s credit limit.
Recurring extra payment goes to principal above the contractual payment. An extra 100 a month on 50,000 at 12% for 5 years does not turn 1,112.22 into 1,012.22. It shortens the term by about six payments and saves about 1,942 in interest. Origination and monthly fees enter total cost, not the annuity formula.
This page answers two different biweekly questions. The usual extra is one extra monthly payment a year, about payment ÷ 12 added each month. Payment frequency set to Every 2 weeks recalculates a smaller payment 26 times a year. Those are different schedules. The result panel shows the usual extra when you leave extras empty on a monthly loan.
The currency in the header is a label only. You can type 9.5 with a comma or a period; both mean the same rate. The result updates as you type. This is a fixed-rate planning estimate, not a credit decision and not a statutory APR.
What is the payment on 50,000 at 12% for 5 years
The payment is 1,112.22 a month. You pay back 66,733.40. Interest is 16,733.40, about 25% of that total. The calculator uses the numbers you enter: loan amount, annual rate, and term in years.
The contractual payment is 1,112.22 both times. The first payment is about 500 interest and 612 principal. The last is about 11 interest and 1,101 principal.
A split of the same 50,000 into 60 parts with no interest is 833.33. That calculation is on the equal-split page. This calculator adds interest to each payment.
How term length changes interest
The table uses 50,000 at 12% with monthly payments. Only the term changes. A longer term lowers the payment and raises total interest. This is not a credit offer.
| Term | Payment | Total interest |
|---|---|---|
| 3 years | 1,660.72 | 9,785.70 |
| 5 years | 1,112.22 | 16,733.40 |
| 7 years | 882.64 | 24,141.36 |
| 10 years | 717.35 | 36,083.12 |
A longer term lowers the monthly payment and raises total interest. Five years is the first example on this page.
Five years is the first example on this page. At 6% for the same 50,000 and 5 years the payment is 966.64. At 15% it is 1,189.50. Interest share of the 5-year schedule is about 25%.
How much can I borrow at 400 a month
Leave Loan amount blank and enter 400 under Payment I can make, with 9.5% and 3 years. The calculator solves about 12,487. That is the amount whose annuity payment equals 400 at that rate and term.
That is the present value of 36 equal payments, not a lender’s credit limit.
If you also enter a loan amount, the schedule still uses that amount. The result then shows how much you could borrow at the target payment, so you can compare the two.
Does an extra payment cut the monthly payment
No. A recurring extra goes to principal above the contractual payment. The contractual payment remains 1,112.22 on the 50,000, 12%, 5-year example until the term shortens. An extra 100 a month saves about 1,942 in interest and about six payments.
The extra is added on top of the contractual payment. It does not turn 1,112.22 into 1,012.22.
Origination and monthly fees enter total cost. They do not change the annuity formula. Statutory APR is on a separate page.
Biweekly extra versus paying every two weeks
People search both phrases. They are not the same schedule. The usual biweekly extra is one extra monthly payment a year: about 1,112.22 ÷ 12 ≈ 92.69 added each month on the first example. That saves about 1,816 in interest and about six payments versus the base monthly loan.
Payment frequency set to Every 2 weeks recalculates a smaller payment 26 times a year. That is a new annuity, not an extra on the monthly payment. Use Additional options for extras. Use the frequency list only when the contract really bills 26 or 52 times a year.
What the result is not
The result is a fixed-rate annuity from the numbers you enter. It is not a credit decision, not a credit score, and not a statutory APR.
It is not a declining-balance schedule. Early payments on a decreasing payment are higher. That calculation is on the decreasing-payment page. This calculator keeps the payment constant.
Formula
Monthly rate r = annual rate ÷ 12. At 12%, r = 0.01. Number of payments n = years × 12. At 5 years, n = 60. Payment = amount × r × (1 + r)^n ÷ ((1 + r)^n − 1). The calculator rounds that payment to cents before the schedule runs. At 50,000 the payment is 1,112.22. Interest is schedule total minus amount. Payment × n after rounding is 66,733.20; the amortizing schedule totals 66,733.40 because the last payment is 1,112.42 and closes the balance. If amount is blank, the calculator inverts the same formula for principal from the payment you can make.
How to use
- Enter Loan amount, for example 50,000, Annual interest rate (%), for example 12, and Term (years), for example 5. The result updates as you type.
- To solve how much you can borrow, leave Loan amount blank and enter Payment I can make, for example 400.
- Leave Payment frequency on Monthly, or pick Every 2 weeks or Weekly under Additional options only if the contract bills that often.
- Optionally add a Recurring extra. It does not lower the contractual payment; it shortens the term and cuts interest.
- At 50,000, 12%, and 5 years the payment is 1,112.22. Interest is 16,733.40, about 25% of 66,733.40 paid back.
Annuity payment on a cash loan
A fixed payment from amount, rate, and years. At 50,000, 12%, and 5 years the payment is 1,112.22, the total is 66,733.40, and interest is 16,733.40.
- annuity
- Equal principal-plus-interest payment. 50,000 at 12% for 5 years is 1,112.22. 20,000 at 9.5% for 3 years is 640.66.
- total cost
- Schedule total plus origination and monthly fee. On 40,000, 11%, +150 a month, 800 origination and 10 a month, total cost is about 51,200.
- extra
- An optional overpayment, not an APR formula. +150 a month in example 3 shortens the term by about 11 payments versus the base.
Examples
Example 2
- Amount: 20,000
- Rate: 9.5%
- Term: 3 years
Payment 640.66
Total 23,063.72
Interest 3,063.72
20,000 at 9.5% for 3 years → interest 3,063.72 (shorter term).
Example 3
- Amount: 40,000
- 11%, 5 years, start Jan 1, 2026
- Extra +150 / month, origination 800, fee 10 / month
Payment 869.70
Interest ≈ 9,800 (vs ≈ 12,182 base)
Total cost ≈ 51,200
Extra does not cut the 869.70 payment — ~11 fewer payments, ~2,382 less interest; fees → total cost ≈ 51,200.
Example 4
- Amount: blank
- Payment I can make: 400
- 9.5%, 3 years
Loan amount ≈ 12,487
Payment 400 at 9.5% for 3 years → amount ≈ 12,487. Not a credit decision.
Example 5
- Amount: 50,000
- 12%, 5 years
- Extra +100 / month
Payment stays 1,112.22
Interest ≈ 14,792 (vs 16,733)
About 6 payments sooner
Extra 100: payment unchanged; shorter term and less interest.
Fixed payment, decreasing payment, and a simple split — three different tools
- Loan payment — equal payment with interest (annuity): each payment contains both interest and principal, but the payment amount stays constant.
- Decreasing payment — early payments are higher, later ones lower; you repay principal faster, often reducing total interest, but you need more cash up front.
- Equal split (no interest) — simple division of the amount into equal parts without interest; this is not a loan payment.
If you need a loan payment with interest, use this calculator, not the simple equal-split tool. A mortgage with taxes and insurance is on the mortgage page.
Related calculators
Frequently asked questions
What is a loan calculator?
The calculator computes a fixed annuity payment from amount, rate, and term, plus interest, total cost, and the effect of extras. At 50,000, 12%, and 5 years the payment is 1,112.22. A cash/personal-loan style estimate at a fixed rate, not a lender decision.
Is this also a loan payment calculator?
Yes. The main result is the monthly loan payment. You can also leave amount blank and solve for how much you can borrow at a payment you enter.
How is the loan payment calculated?
At 50,000, 12%, and 5 years the monthly annuity payment is 1,112.22. Schedule total is 66,733.40, and interest is 16,733.40 (about 25% of what you pay back). A fixed-rate estimate, not a credit decision.
Is this a mortgage calculator?
No. There is no down payment, LTV, or property insurance. For a home loan with deposit fields use the mortgage calculator page.
How is this different from the amortization schedule page?
This page returns one payment and cost summary. The amortization schedule builds the full month-by-month table and shows how extras shorten the term.
How does the loan term change the interest?
16,733.40 in interest on a 66,733.40 schedule total, about 25% of what you pay back. A shorter term cuts interest more than a smaller principal alone: 20,000 at 9.5% for 3 years is 3,063.72 in interest.
Does an extra payment reduce the contractual payment?
No. The extra goes to principal above the contractual payment. On 50,000 at 12% for 5 years, an extra 100 a month leaves the payment at 1,112.22, cuts about six payments, and saves about 1,942 in interest.
How do I solve for loan amount from a payment I can afford?
Leave the loan amount blank and enter 400 as the payment you can make. At 9.5% for 3 years the calculator solves about 12,487. That is the present value of 36 equal payments, not a lender’s credit limit.
Is a biweekly extra the same as paying every two weeks?
No. The usual biweekly extra is one extra monthly payment a year, about payment ÷ 12 added each month. Payment frequency set to Every 2 weeks recalculates a smaller payment 26 times a year. Those are different schedules.
What goes into total cost?
Schedule payments plus origination plus monthly fee times the number of months. The payment itself still comes from amount, rate, term, and frequency.
Is this APR, the annual percentage rate?
No. You see payment, interest, and total cost. Simplified APR is a sibling page, and that is a planning estimate too, not a statutory disclosure.
Is the result a lender credit decision?
No. It is a fixed-rate planning estimate from the numbers you enter. An offer and a score are computed elsewhere.
Knowledge sources
The annuity payment uses the fixed rate you type. This is a planning estimate, not a credit decision.
Page updated September 22, 2026.