How many payments remaining

The How many payments remaining calculator finds the number of payments remaining on a loan term given the monthly payment, yearly interest rate, and principal.

INSTRUCTIONS: Choose units and enter the following variables:

• (PV) remaining principal balance
• (i) yearly interest rate
• (PMT) monthly payment

Monthly Payments Remaining (term): It is possible that the last payment will be less than the normal monthly payment. We calculate the approximate final payment based on the remainder of the final month. 

Typically you have a fixed term and calculate the payment based on the rate and principal but there can be situations where the term is not fixed and you want to know how long you have to pay at a certain payment and interest rate. For instance, say you have been owner financing a house and renegotiated the interest rate with the buyer, In this case you will know the agreed upon interest rate and you should know the principle that is still owed. You could calculate based on a common term length to come up with a monthly payment amount but in a more informal arrangement you might want to keep the payment the same or change it to a round number to keep things simple. In that case you need to find an irregular term length based on the constant factors of monthly payment, principal and yearly interest rate.