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How do i calculate loan payments?

Updated: 9/15/2023
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Wiki User

14y ago

Best Answer

Cut & pase this link into your browser:

http://rws.rwstools.com/templateroot/Calculators.asp?PVLID=26316

Or you can do it the hard way:

payment = Balance*(int/(1-(1/(1+int)^term)))

Balance = the balance of the loan

int = the interest rate divided by 1200

term = the number of years to payoff the loan times 12

Also, if you have Microsoft Excel, there is a function that calculates loan payments.

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14y ago
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