wˌɛɹ ɪz ðə fˈɪkst mˈʌnθli pˈeɪmənt,  ɪz ðə nˈʌmbɚɹ ʌv pˈeɪmənts ðæt wɪl biː mˈeɪd, ænd ɪz ðɪ ɪnˈɪʃəl pɹˈɪnsɪpəl bˈæləns ɔnðə lˈoʊn.
where  is the fixed monthly payment,  is the number of payments that will be made, and  is the initial principal balance on the loan.