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Calculate a loan duration

Enter the loan principal, payment amount, and annual interest rate to calculate the corresponding loan duration.

  Calculate a loan duration  
  Borrowed amount : $  
  Amount of each payment : $  
  Annual interest rate : %  
  Type of calculation : Monthly payment based on a simple interest rate  
 
 
   
       

Guide to using this form

• By default, the calculation is performed for monthly payments and a simple interest rate. To change these settings, select the “Advanced entry” box. Note that this feature requires that JavaScript be enabled in your brower.

• The loan duration is calculated so as to acheive a whole multiple of the payment period (monthly by default) using a payment amount as close as possible to the entered amount. The payment period multiples used for this calculation are 1 month (for monthly and semi-monthly payments), 3 months (for quarterly, weekly, and bi-weekly payments), 6 months (for semi-annualy payments), or one year (for annualy payments). The maximum possible loan duration is 50 years.

 
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