Curious about your monthly loan payments? Utilize the loan monthly payment online calculator for a clear view! Provide your loan amount, loan term, and interest rate, and the calculator will show you your monthly loan expenditure.
Loan monthly payment formula
![\[P = \frac{L \cdot \frac{r}{12}}{1 - (1 + \frac{r}{12})^{-n}}\]](https://x-calculator.com/wp-content/ql-cache/quicklatex.com-bd6e01d5a19eaaf8841b10db2c3fcbc7_l3.png "Rendered by QuickLaTeX.com")
where:
- P – is the monthly payment.
- L – is the loan amount.
- r – is the annual interest rate (expressed as a decimal).
- n - is the number of payments (usually the total number of months)
