Loan Amortization Schedule Calculator
See how any loan pays down over time. Enter principal, rate, and term to get your monthly payment, total interest cost, and a chart showing remaining balance vs. cumulative interest paid year by year.
How to use this tool
- Enter loan amount, annual interest rate and loan term in the fields above.
- Results update instantly as you type — or click Calculate.
- Read your monthly payment and the full breakdown beneath it.
An amortization schedule shows how each payment is split between principal and interest. Early payments are mostly interest; later payments shift toward principal as the balance falls.
Monthly Payment Formula: M = P × r(1+r)n / ((1+r)n−1), where P is the loan amount, r the monthly rate, and n the total number of payments.
Frequently asked questions
- Why does so much of the early payment go to interest?
- Because your balance is highest at the start, so the interest portion (balance × monthly rate) is large. As the balance falls, each payment covers less interest and more principal.
- Can I use this for a mortgage?
- Yes — enter the mortgage principal, your annual interest rate, and term in years. For extra payment impact use the Extra Mortgage Payment Calculator.