ZovaTool

Payment Calculator

Monthly Payment
$396.02
Number of Months
60.0
Total Paid
$23,761.44
Total Interest
$3,761.44

How to use the Payment Calculator

  1. Pick a mode: Find Payment (you know the term) or Find Term (you know what you can afford).
  2. Enter the loan amount and annual interest rate.
  3. In Find Payment, enter the term in years.
  4. In Find Term, enter the monthly payment you can afford — we compute how many months it'll take.
  5. Review monthly payment, total paid and total interest.
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Two questions every borrower should answer

Before signing any loan, ask: 'What will my monthly payment be?' and 'If I can only pay X per month, how long will I be paying?' This calculator answers both in one place.

Finding the term backward from a comfortable payment is especially useful for budgeting. It also reveals when a payment is too low — if your target doesn't cover the monthly interest, the loan never amortizes.