# Payment Calculator

> Calculate your monthly loan payments and total interest for any type of loan.

Page: https://askcalculators.com/calculator/payment-calculator/
Definition: https://askcalculators.com/calculator/payment-calculator/definition.json
JSON Schema: https://askcalculators.com/calculator/payment-calculator/schema.json
Version: 7.0.0
Maintained by: AskCalculators (software project; not a credentialed reviewer)
Qualified review: pending. Automated checks do not establish professional approval.
Page status: Live
Review status: Pending

## Use
Open the calculator page and enter values. Query-string parameters can restore and bookmark a calculation.
Example: https://askcalculators.com/calculator/payment-calculator/?loanAmount=10000&interestRate=5&loanTerm=5

## Inputs
- loanAmount: Loan Amount ($); type=number; optional; default=10000
- interestRate: Interest Rate (%); type=number; optional; default=5
- loanTerm: Loan Term (Years); type=number; optional; default=5

## Outputs
- result: Result; format=text; primary

## Formula
Monthly payment = P·r·(1+r)^n ÷ ((1+r)^n−1); total interest = monthly payment × n − P.

## Rules
- Empty optional inputs are undefined, not zero.
- Hidden conditional inputs are ignored.
- Do not invent missing required inputs.