Loan Amortization Calculator — Payment Schedule
Free loan amortization calculator. See your full payment schedule with principal and interest breakdown.
Formula: M = P[r(1+r)^n] / [(1+r)^n - 1]
Recommended Tools:
What Is This Calculator?
A loan amortization calculator shows your complete payment schedule, breaking down each payment into principal and interest portions. Early payments are mostly interest; later payments are mostly principal. This helps you understand the true cost of borrowing.
How to Calculate
To calculate amortization: 1) Enter the loan amount. 2) Enter the annual interest rate. 3) Enter the loan term. The calculator generates a payment schedule showing how each payment splits between principal and interest.
Examples
Example: A $25,000 loan at 5% for 5 years has a monthly payment of $471.78. In month 1, $104.17 goes to interest and $367.61 to principal. By the last month, only $1.96 goes to interest.
Recommended Tools
Bankrate offers detailed amortization schedules and tools to see how extra payments reduce your loan term.
Get Calculator Tips Weekly
Free tips, new calculators, and practical business math. No spam.
People Also Calculated
Mortgage Calculator
Free mortgage calculator. Estimate monthly mortgage payments based on loan amount, interest rate, and term.
Compound Interest Calculator
Free compound interest calculator. See how your money grows with compound interest over time.
Payback Period Calculator
Free payback period calculator. Find how long it takes to recover your investment.