Loan repayment calculator
This loan/mortgage repayment calculator computes the repayment amount and shows the amount owed for a load with a fixed repayment plan.
Loan amount ($)
Interest rate (%)
Duration (years)
Repayments (per year)
Repayment amount
£390.61
Total repayable
£117,182.35
Interest payed
£17,182.35
This is calculated using the following formula:
Loan Payment = Amount / Discount Factor (D)
D = {[(1 + r)^n] - 1} / [r(1 + r)^n]
Where r is the interest rate per repayment period and n is the total number of repayments to be made.