Formula Library
Debt & Loans Formulas
Calculate loan payments, interest costs, and payoff timelines for mortgages, credit cards, and other debt.
Amortization Schedule
advancedBuild a complete loan payment schedule showing principal, interest, and remaining balance for each payment.
=PMT(rate/12, periods, -principal) Credit Card Minimum Payment
beginnerCalculate how minimum payments are determined and why paying only minimums costs so much.
=MAX(balance * 0.01 + monthly_interest, 25) Debt Payoff Timeline
intermediateCalculate how many months it will take to pay off a debt with fixed monthly payments.
=NPER(rate/12, -payment, balance) Debt-to-Income Ratio
beginnerCalculate your DTI ratio - a key metric lenders use and an important indicator of financial health.
=total_monthly_debt / gross_monthly_income Extra Payment Impact
intermediateCalculate how much time and interest you save by making extra payments on your debt.
=NPER(rate/12, -(payment + extra), balance) - NPER(rate/12, -payment, balance) Monthly Loan Payment (PMT)
beginnerCalculate the monthly payment required to pay off a loan with a fixed interest rate over a set number of periods.
=PMT(rate/12, periods, -principal) Total Interest Paid
beginnerCalculate the total amount of interest you'll pay over the life of a loan.
=(PMT(rate/12, periods, -principal) * periods) - principal