Loan Term Solver

Find how many months a loan takes to repay from its balance, rate and payment.

Loan term solver

Loan balance

Annual interest rate (%)

Monthly payment

Payments: — · Payoff time: —

Total interest: — · Total paid: —

Likely final payment: —

—

The term comes from n = -ln(1 - i x P / A) / ln(1 + i), with i as the monthly rate.

Common questions about the free online loan term solver.

Use the term formula, n = -ln(1 - i x P / A) / ln(1 + i), where P is the balance, i the monthly rate and A the payment.

If the payment is not larger than balance x monthly rate the loan never repays, and the tool says so instead of returning a number.

Divide the number of monthly payments by twelve. The tool also shows whole years and the leftover months for you.

Yes. Because interest is charged on the falling balance, a larger payment cuts both the term and the total interest sharply.

Multiply the payment by the number of payments, then subtract the original balance. The difference is the interest you pay.

The formula gives a fractional number of payments. Lenders round up, and the final payment is usually smaller than the rest.

It is the annual rate divided by twelve. A 6 percent annual rate is 0.5 percent, or 0.005, charged on the balance each month.

Yes. Enter your current balance, rate and payment to see how many months are left and how much interest remains to be paid.

Yes. With a zero rate the term is simply the balance divided by the payment, and no interest is charged at all.

Last updated: October 10, 2026