📋 Loan Amortization Calculator
Generate a complete loan amortization schedule with monthly payments, principal breakdown, and total interest.
Loan Amortization Calculator
The Loan Amortization Calculator generates a complete payment schedule for any fixed-rate loan. An amortization schedule breaks down each monthly payment into principal and interest components, showing exactly how your loan balance decreases over time.
Enter the loan amount, annual interest rate, and loan term in years to see your monthly payment, total interest paid over the life of the loan, and a detailed table showing every payment. The schedule reveals how interest and principal proportions change with each payment.
This tool is essential for anyone taking out a mortgage, auto loan, or personal loan. Understanding your amortization schedule helps you make informed decisions about extra payments, refinancing, and choosing the right loan term for your budget.
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule is a table showing each periodic payment on a loan, broken down into the principal and interest components. It shows how the balance decreases over the life of the loan.
How is the monthly payment calculated?
The monthly payment is calculated using the formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.
Why do I pay more interest in the beginning?
In the early months, your loan balance is highest, so more interest accrues. As you make payments and the balance decreases, less interest accrues and more of each payment goes toward principal.