Formula Library
Debt & Loans Formulas
Calculate loan payments, interest costs, and payoff timelines for mortgages, credit cards, and other debt.
Debt Payoff Timeline
intermediateCalculate how many months it will take to pay off a debt with fixed monthly payments.
=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