Loan Payment Calculator

Now you can easily find out your monthly payment on a simple interest loan with our loan payment calculator. All you need to do is enter the term of your loan (in months), interest rate, the amount of the loan, and press the calculate monthly payment button.

The loan calculator below is a JAVA application.

Interest Rate: Enter the interest rate. If the rate is 6.2%, then enter 6.2. The formula will convert it to .062. (do not use the % symbol).

Loan Amount: Enter the amount of the loan. If the amount is $18,000.00, then enter 18000 (do not use commas).