Installment Calculator
Turn a price, term and annual rate into a monthly payment, total interest and a full month-by-month schedule.
How to use
- Enter the price and the number of months. Use the 3/6/12/24/36 chips for common terms.
- Enter the annual interest rate — type 0 for an interest-free plan.
- Add a down payment if you have one, and choose equal total payment or equal principal.
- Monthly payment, total interest, total paid and the full schedule appear instantly.
FAQ
What is the difference between the two methods?
Equal total payment keeps every instalment the same. Equal principal keeps the principal part the same, so payments shrink over time and total interest is lower.
Does it handle 0% plans?
Yes. With a rate of 0 the interest is 0 and the monthly payment is simply the price divided by the months.
How is a down payment used?
The down payment is subtracted first and the rest is financed, so interest is charged only on the financed amount.
Will this match my card statement exactly?
The formula is the same, but issuers round differently, so amounts can differ by a few units.