{
  "id": "payment-calculator",
  "version": "20.13.0",
  "name": "Monthly Payment from a Fixed Loan Amount",
  "shortName": "Monthly payment",
  "description": "Find the regular monthly payment when the principal, fixed annual rate and repayment term are known.",
  "category": "Finance",
  "categorySlug": "finance",
  "keywords": [
    "payment"
  ],
  "status": "live",
  "workStatus": "pending",
  "reviewStatus": "pending",
  "migrationStatus": "migrated",
  "migratedDate": "2026-09-10",
  "engine": "native",
  "creator": null,
  "reviewer": null,
  "quality": {
    "availability": "live",
    "technicalReviewRecord": "/reviews/payment-calculator.json",
    "qualifiedReview": "pending",
    "qualifiedReviewer": null,
    "qualifiedReviewDate": null,
    "formulaVersion": "20.13.0",
    "referenceCoverage": "references-pending",
    "releaseTestScope": "Catalog and regression checks are not a professional formula audit; consult release evidence.",
    "historicalMetadataDate": "2026-09-10",
    "historicalMetadataNotice": "The imported date is not evidence of a completed human review."
  },
  "urls": {
    "page": "/us/payment/",
    "definition": "/us/payment/definition.json",
    "schema": "/us/payment/schema.json",
    "llms": "/us/payment/llms.txt",
    "legacyDefinition": "/us/payment/definition.json"
  },
  "queryExample": "https://askcalculators.com/us/payment/?loanAmount=7200&interestRate=0&loanTerm=3",
  "queryParameters": {
    "loanAmount": {
      "label": "Loan Amount ($)",
      "type": "number",
      "required": false,
      "default": 10000
    },
    "interestRate": {
      "label": "Interest Rate (%)",
      "type": "number",
      "required": false,
      "default": 5
    },
    "loanTerm": {
      "label": "Loan Term (Years)",
      "type": "number",
      "required": false,
      "default": 5
    }
  },
  "inputs": [
    {
      "id": "loanAmount",
      "label": "Loan Amount ($)",
      "type": "number",
      "defaultValue": 10000
    },
    {
      "id": "interestRate",
      "label": "Interest Rate (%)",
      "type": "number",
      "defaultValue": 5
    },
    {
      "id": "loanTerm",
      "label": "Loan Term (Years)",
      "type": "number",
      "defaultValue": 5
    }
  ],
  "outputs": [
    {
      "id": "monthlyPayment",
      "label": "Monthly payment",
      "format": "currency",
      "primary": true,
      "currency": "USD"
    },
    {
      "id": "totalPayments",
      "label": "Total scheduled payments",
      "format": "currency",
      "primary": false,
      "currency": "USD"
    },
    {
      "id": "totalInterest",
      "label": "Total interest",
      "format": "currency",
      "primary": false,
      "currency": "USD"
    },
    {
      "id": "months",
      "label": "Monthly periods",
      "format": "number",
      "primary": false,
      "digits": 2
    }
  ],
  "formula": {
    "expression": "M = P × r / [1 − (1 + r)^(−n)]; for r = 0, M = P / n.",
    "note": "This fixed-rate illustration excludes fees, variable rates, daily-interest conventions and irregular payment dates. A lender’s actual schedule can differ."
  },
  "examples": [
    {
      "label": "Worked example: A zero-interest purchase",
      "inputs": {
        "loanAmount": 7200,
        "interestRate": 0,
        "loanTerm": 3
      }
    }
  ],
  "sources": [],
  "publicSlug": "payment",
  "namespace": "us",
  "countries": [
    "us"
  ]
}