Loan Amortization Calculator
Calculate your loan amortization schedule with our comprehensive calculator. Estimate monthly payments, total interest, and repayment timeline for any loan.
Step 1: Loan Details
Understanding Loan Amortization
Loan amortization is the process of paying off a loan over time through regular payments. Each payment covers both interest and principal, with the interest portion decreasing over time as the principal balance reduces.
Step 2: Currency & Options
About Loan Calculations
This calculator uses the standard amortization formula to determine your monthly payment and creates a detailed schedule showing how each payment is allocated between principal and interest over the life of the loan.
Loan Amortization Results
Monthly Payment
Amortization Schedule
| Payment # | Payment Date | Payment Amount | Principal | Interest | Remaining Balance |
|---|
Showing first 12 months of the schedule. Download full schedule for complete details.
Payment Breakdown Over Time
Loan Amortization 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 required to fully amortize a loan over its term.
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