This number of payments calculator finds how many monthly payments it takes to pay off a loan, from the balance, rate, and payment amount. Enter the values above.
Formula
n = −ln(1 − P × r ÷ M) ÷ ln(1 + r)
Example
$10,000 at 5%, $200/month: about 56 payments (just under 5 years).
Good to know
These results are estimates for educational purposes only and are not financial advice. Rates, fees, and terms vary — confirm figures with a licensed professional before making decisions. Last updated: August 2026.
Frequently Asked Questions
How many payments to pay off a loan?
Use n = -ln(1 – P r / M) / ln(1 + r) with the balance, monthly rate, and payment.
What happens if the payment is too small?
If the payment is below the monthly interest, the balance never falls and the loan never pays off.
How do I shorten the term?
Increase the monthly payment; even a small increase cuts the number of payments noticeably.