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Repayment Calculator

Use this repayment calculator to compare a finance scenario for repayment with visible assumptions and source notes.

Primary answer
Repayment time
Inputs to verify
Balance, Annual rate, and Monthly payment
Use type
Use as an estimate that depends on assumptions.
Keyword intent
repayment calculator

Calculator

Repayment Calculator

Calculates repayment time from balance, annual rate, monthly payment. Defaults are filled in so you can review a working example before changing inputs.

USD

Current amount owed before future interest.

%

Use 7.5 for 7.5%. The model divides this by 12 for monthly interest.

USD

Base monthly payment applied at the end of each month.

USD

Optional extra amount added to the base monthly payment.

months

Whole number of months for the required-payment comparison.

Result

Result reflects the current submitted inputs.

  • Risk B
  • Reviewed 2026-05-26
  • 3 sources
Repayment time38 months
Total interest1,248.75 USD
Total paid11,248.75 USD
Final payment148.75 USD
Effective monthly payment300 USD
Payment for target311.06 USD
Target interest1,198.24 USD
Monthly rate0.625%

Breakdown

First month interest
62.5 USD
Target repayment time
36 months
  • Payments are made monthly at the end of each period.
  • Annual rate is treated as a nominal annual rate divided by 12.
  • The model does not include taxes, fees, insurance, escrow, payment holidays, late charges, penalties, or changing rates.
  • The final payment may be smaller than the regular monthly payment.
  • This is an educational estimate, not financial advice, legal advice, or a lender payoff quote.

Accuracy notes

Risk level
B
Reviewed
2026-05-26
Sources
3
Primary result
Repayment time

Formula logic is kept in a pure calculator module with fixtures, source notes, and page-visible assumptions.

Categories

What the result means

Repayment time is the number to carry forward from this repayment calculation. Number of monthly periods until the balance reaches zero. Read the main estimate first, then compare it with the assumptions and secondary outputs before using it in a decision. Use total interest, total paid, and final payment to explain why repayment time moved when an input changed. Compare the result with the source document or quote that will actually govern the decision.

Repayment timeNumber of monthly periods until the balance reaches zero.
Total interestInterest accumulated during the repayment simulation.
Total paidTotal payments made until the balance reaches zero.
Final paymentEstimated final payment if the fixed monthly payment would overpay.

Use the result this way

  1. Start with Repayment time, then use supporting outputs only to explain the primary answer.
  2. Verify balance, annual rate, and monthly payment before copying the result.
  3. Keep units consistent with the labels shown in the form, stay within the documented minimum and maximum ranges, and enter percentages as whole percents, such as 6.5 for 6.5%, unless a field says otherwise.
  4. Compare the result with the source document or quote that will actually govern the decision.

User job

How to use this calculator

Use Repayment Calculator when you need repayment time, then use total interest and total paid to check the context for planning conversations, quote comparisons, payment checks, and scenario review.

Best for

  • Comparing one financial scenario with another
  • Preparing questions for a lender, advisor, or statement review
  • Reviewing a default example before entering your own balance and annual rate.

Check before relying

  • Verify rates, fees, timing, taxes, and local rules against official documents before acting.
  • Payments are made monthly at the end of each period.
  • Annual rate is treated as a nominal annual rate divided by 12.
  • Source context: Microsoft Learn, reviewed 2026-05-26.

Next useful step

  • Credit Card Payoff CalculatorUse next when you need payoff time from credit card balance and purchase APR after checking repayment time.
  • Mortgage Payoff CalculatorUse next when you need payoff time with extra payment from current mortgage balance and annual interest rate after checking repayment time.
  • Amortization CalculatorUse next when you need monthly payment from loan amount and annual rate after checking repayment time.

Formula

The calculator divides the annual rate by 12, applies monthly interest to the current balance, then subtracts a fixed end-of-month payment until the balance is paid off. Key assumptions: Payments are made monthly at the end of each period. Annual rate is treated as a nominal annual rate divided by 12. The model does not include taxes, fees, insurance, escrow, payment holidays, late charges, penalties, or changing rates.

  • The calculator divides the annual rate by 12, applies monthly interest to the current balance, then subtracts a fixed end-of-month payment until the balance is paid off.
  • Payments are made monthly at the end of each period.
  • Annual rate is treated as a nominal annual rate divided by 12.
  • Primary source context: Microsoft Learn.

Inputs

Enter balance, annual rate, monthly payment, and extra monthly payment for planning conversations, scenario checks, and lender or statement comparison. Before calculating, keep units consistent with the labels shown in the form, stay within the documented minimum and maximum ranges, and enter percentages as whole percents, such as 6.5 for 6.5%, unless a field says otherwise. Balance: Current amount owed before future interest. Annual rate: Use 7.5 for 7.5%. The model divides this by 12 for monthly interest. Monthly payment: Base monthly payment applied at the end of each month. Extra monthly payment: Optional extra amount added to the base monthly payment.

BalanceCurrent amount owed before future interest.
Annual rateUse 7.5 for 7.5%. The model divides this by 12 for monthly interest.
Monthly paymentBase monthly payment applied at the end of each month.
Extra monthly paymentOptional extra amount added to the base monthly payment.
Target repayment timeWhole number of months for the required-payment comparison.

Example

Using the default inputs, Repayment Calculator returns repayment time of 38. Adjust balance, annual rate, monthly payment, and extra monthly payment to match your own scenario.

FAQ

How is repayment time calculated here?

The calculator divides the annual rate by 12, applies monthly interest to the current balance, then subtracts a fixed end-of-month payment until the balance is paid off. The first assumption to check is: Payments are made monthly at the end of each period.

What does Repayment time mean for repayment?

Read the main estimate first, then compare it with the assumptions and secondary outputs before using it in a decision. Secondary values such as total interest, total paid, and final payment are there to explain the primary answer, not to replace it.

What should I enter for Balance?

Current amount owed before future interest. Use USD for this field. Keep units consistent with the labels shown in the form, stay within the documented minimum and maximum ranges, and enter percentages as whole percents, such as 6.5 for 6.5%, unless a field says otherwise.

How does Annual rate change repayment time?

Use 7.5 for 7.5%. The model divides this by 12 for monthly interest. Changing it can alter repayment time because the formula uses the submitted inputs together. Also compare rates, dates, fees, taxes, local rules, compounding, and omitted real-world charges.

Why does the repayment example show 38 for repayment time?

The default inputs produce 38 for repayment time. Treat that as a format and scale check, then replace every default value with your own inputs.

Can the repayment result replace financial advice?

No. Use the repayment result as comparison context only. Market returns, taxes, fees, legal terms, and personal constraints can change the real outcome.

Sources

Last reviewed: 2026-05-26

  • Reviewed 2026-05-26
    NPer functionMicrosoft Learn. Fixed-payment repayment period and end-of-period payment convention.
    Scope
    Financial function documentation for fixed payments, fixed periodic rates, present value, and payoff periods.
    Supports
    Fixed-payment repayment period and end-of-period payment convention.
  • Reviewed 2026-05-26
    PMT functionMicrosoft Support. Required target payment calculation and monthly rate treatment.
    Scope
    Financial function documentation for fixed payments under constant interest rate.
    Supports
    Required target payment calculation and monthly rate treatment.
  • Reviewed 2026-05-26
    What is the difference between a loan interest rate and the APR?Consumer Financial Protection Bureau. Disclaimer that user-entered APR/rate assumptions do not replace lender disclosures.
    Scope
    U.S. consumer finance guidance for APR versus interest rate.
    Supports
    Disclaimer that user-entered APR/rate assumptions do not replace lender disclosures.

Disclaimer

This finance calculator is for educational estimates only. It is not financial advice, a lender quote, tax advice, legal advice, or a substitute for reviewing actual contracts, rates, fees, disclosures, and local rules.