Loan Payment Table Generator

The monthly payment is calculated using the standard amortization formula: PMT = PV × r × [(1+r)^n / ((1+r)^n − 1)], where PV is the loan amount (present value), r is the monthly interest rate (annual rate divided by 12 and converted to decimal), and n is the number of monthly payments. This formula assumes equal payments made at the end of each period.

The axis setting determines which two variables form the rows and columns of your lookup table. 'Rate and Loan Amount' fixes the term and shows payments for combinations of different rates and loan sizes. 'Months and Loan Amount' fixes the rate. 'Rate and Months' fixes the loan amount. Choose the option that matches the variables you're most uncertain about.

Set the axis to 'Rate and Loan Amount', enter a row starting amount around your target car price (e.g. $15,000) with increments of $1,000, and set column starting rate to the lowest rate offered by your lender. The table will show monthly payments for each combination, so you can instantly see how a small change in rate or price affects your payment.

Amortization is the process of paying off a loan through regular scheduled payments. Each payment covers both interest (calculated on the remaining balance) and principal reduction. Early payments are more heavily weighted toward interest, while later payments go mostly toward reducing the principal balance.

A longer loan term reduces the monthly payment because the principal is spread over more periods. However, you'll pay significantly more total interest over the life of the loan. A shorter term increases the monthly payment but reduces the total interest cost substantially.

On a large loan like a mortgage, even a 0.5% difference in interest rate can mean tens of thousands of dollars in additional interest over the full term. This payment table makes it easy to visualize exactly how much each rate increment adds to your monthly obligation across different loan amounts.

Yes. Set your axis to 'Rate and Loan Amount', enter your target home price range as row values, and use realistic mortgage rates for columns. Fix the term at 360 months (30 years) or 180 months (15 years) to see how your monthly payment changes across different purchase prices and rate scenarios.

You can generate up to 20 rows and 20 columns, giving you a maximum of 400 payment scenarios in a single table. For most practical comparisons, a 5×5 or 6×6 table is enough to get a clear picture of how your payment changes across the variables you're evaluating.