# Monthly Payment from a Fixed Loan Amount

> Find the regular monthly payment when the principal, fixed annual rate and repayment term are known.

Page: https://askcalculators.com/us/payment/
Definition: https://askcalculators.com/us/payment/definition.json
JSON Schema: https://askcalculators.com/us/payment/schema.json
Version: 20.13.0
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/us/payment/?loanAmount=7200&interestRate=0&loanTerm=3

## 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
- monthlyPayment: Monthly payment; format=currency; primary
- totalPayments: Total scheduled payments; format=currency
- totalInterest: Total interest; format=currency
- months: Monthly periods; format=number

## Formula
M = P × r / [1 − (1 + r)^(−n)]; for r = 0, M = P / n.

This fixed-rate illustration excludes fees, variable rates, daily-interest conventions and irregular payment dates. A lender’s actual schedule can differ.

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