Loan Calculator
Estimate scheduled payments at your chosen payment frequency.
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Formula / Calculation Method
Payment = P × r / (1 − (1 + r)^−n). r = annual rate / payments per year.
Example Calculation
12,000 at 0% over one year gives 1,000 monthly or 230.77 weekly.
Understanding the Result
Equal-length financial periods are used; daily accrual and lender fees can change actual payments.
What is the Loan Calculator?
Estimate scheduled payments at your chosen payment frequency.
How to Use
Enter principal and annual interest, select the term unit, and choose monthly, fortnightly or weekly payments.
Select Calculate after entering your values. Text tools update as you type. Reset restores the starting fields.
Interpreting the Calculation
A smaller payment at a higher frequency does not by itself mean a cheaper loan. Compare total interest and the number of payments; the model divides the nominal annual rate by the chosen frequency.
Common Questions
Are fortnightly payments the same as twice monthly?
No. Every two weeks means 26 payments per year. Twice monthly means 24, which this tool does not model.
What assumptions does this tool use?
Equal-length financial periods are used; daily accrual and lender fees can change actual payments.
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