Payment Schedule Calculator
Calculate payment schedules, loan amortization, and payment plans. Get detailed payment breakdowns and schedules for any loan or financing.
Step 1: Loan Details
Loan Information
Enter the principal loan amount, annual interest rate, and loan term. The calculator will generate a detailed payment schedule and amortization table.
Step 2: Payment Details
About Payment Schedules
A payment schedule shows each payment’s breakdown between principal and interest. Early payments mostly cover interest, while later payments apply more to principal.
Payment Schedule Results
Monthly Payment
Payment Schedule & Amortization
| Payment # | Date | Payment | Principal | Interest | Remaining Balance |
|---|
Amortization Information
The payment schedule shows how each payment is divided between principal and interest. Early in the loan, most of the payment goes toward interest. As the principal decreases, more of the payment applies to the principal.
Payment Breakdown Analysis
Payment Calculation Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
Where P = Principal loan amount, r = Monthly interest rate (annual rate ÷ 12), n = Total number of payments (loan term in years × 12). This formula calculates the fixed monthly payment for a fully amortizing loan.
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