Amortization Schedule Generator
Generate complete amortization schedules for loans and mortgages. Calculate monthly payments, interest, and principal breakdown over the loan term.
Step 1: Loan Details
%
years
How Amortization Works
Amortization spreads loan payments over time. Early payments mostly cover interest, while later payments pay down more principal.
Step 2: Additional Options
Payment Formula
Monthly Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ – 1] where P = principal, r = monthly rate, n = total payments.
Amortization Schedule Results
Summary
Schedule
Breakdown
Monthly Payment
$1,266.71
360 payments over 30 years
Total Interest
$206,016.00
Total Payments
$456,016.00
Payoff Date
January 2054
Interest Saved
$0.00
Amortization Schedule
| Payment # | Date | Payment | Principal | Interest | Balance |
|---|
Payment Breakdown Over Time
Amortization Formula
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ – 1]
M = Monthly payment, P = Principal loan amount, r = Monthly interest rate (annual rate ÷ 12), n = Total number of payments (loan term × 12).
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