Missing Loan-Term Calculator

If you know any 4 of a loan's 5 terms (principal, interest rate, number of months remaining, number of payments per year, and payment amount), this calculator will help you to find the missing term. For example, if you know the interest rate, the months remaining, and the payment amount, this calculator will compute the current payoff amount of the loan. All results should be interpreted as close approximations.

Enter the 4 known loan terms in the appropriate entry fields and click on "Compute" that is adjacent to the empty field.

What is the amount of the loan?
What is the interest rate charged? (percent)
How many months?
How many payments per year?
What is the amount of the payment?

Variables Will Affect Every Loan

Bad Math.

Computing loan repayment and interest obligations requires particular information, which is plugged-in to calculators designed to return comprehensive snapshots of the principal and interest you owe.  Payoff amounts and other useful information gleaned from calculators helps loan-holders budget for the future and make prudent decisions about repayment.  In order to accurately analyze loan data, you'll need access to several facts and figures related to your loan contract.

Lending, whether for cars, homes, or business expenses, operates similarly in most cases.  As a result, comparing and contrasting loan terms and repayment schedules is relatively straightforward, even when you don't have values to plug-in for each variable.  In fact, using the missing variable calculator, consumers are able to fill in the blanks, determining missing values based on the data that is at-hand.

Several influences work together, constructing your loan repayment terms.  The most important things to consider as you turn a critical eye toward loans you hold, or other financial products requiring analysis are:  Loan principal amount, interest rate, number of remaining payments, number of annual payments, and the amount of each payment.

Loan Principal – The actual amount you borrow represents the core of your debt, which is used to calculate future interest payments and other costs associated with your loan.  Loan origination and commitment fees are sometimes added, and the costs of closing deals also get rolled into some loan principal balances.  All told, the principal balance is a starting point for repayment.  Regardless of added interest and extended repayment schedules, erasing the entire principal balance is what satisfies loan repayment.  Each installment payment you make toward your mortgage or other loan debt includes portions addressing interest charges, as well as those applied to your remaining principal balance.  Loans are amortized such that early payments are interest-heavy, while those required later during the payback period are applied more generously toward the remaining principal.

Interest Rate – To a certain extent, interest rates reflect general prevailing economic conditions; so when you initiate loans has a heavy impact on the interest rates available.  Mortgages, for example show swings from recent low rates, all the way into double-digit loan interest terms from days passed.  Of course, refinancing provides a restructuring opportunity for mortgage holders seeking to improve terms.  Interest rates are “fixed” or “variable”, depending on the type of loan and specific conditions governing payback.  Fixed rates lock-in for the duration of the loan term, providing assurances for future low payments.  Variable options, on the other hand, respond to economic changes in the short-term, starting with low introductory periods, before shifting into interest calculations based on prevailing rates.

Number of Remaining Payments – The number of payments still required to satisfy a loan is an important calculator input.  When evaluating terms hypothetically, simply use the total number of payments required for the loan you are considering.

Number of Annual Payments – The number of payments you submit each year influences the amount of interest paid, as well as the duration of the repayment period.  In many case, monthly schedules account for 12 annual payments, but the number changes for those making more than one monthly payment.  bi-weekly payments, for example, total 26 each year.

Payment Amount – Of course the amount you pay has a drastic impact on the pace of repayment.  Missing variable calculator uses monthly payment amounts to derive missing values in your loan equation.