Instructions
Loan payment calculator
How to use
Enter principal, nominal annual rate and repayment term. Review the amortization table.
Enter principal, nominal annual rate and repayment term. Review the amortization table.
Supported input
Fixed-rate equal-payment model. Excludes fees, taxes and lender-specific rounding.
Input example
KRW 12,000,000; 5%; 12 months
Result example
Monthly payment plus interest and principal schedule
Troubleshooting
Check required inputs, numeric ranges and the selected conversion direction. Enter principal, nominal annual rate and repayment term. Review the amortization table.
Limitations
Fixed-rate equal-payment model. Excludes fees, taxes and lender-specific rounding.
How it works
M = Pr / (1-(1+r)^(-n)), where r is the nominal annual percentage divided by 1200 and n is the number of monthly payments. At zero interest: M = P/n. This fixed-rate model excludes fees and lender-specific rounding.
Units & precision
Fixed-rate equal-payment model. Excludes fees, taxes and lender-specific rounding.