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Amortization Calculator

Generate a full loan amortization breakdown of principal, interest, and remaining balance.

Introduction

Amortization Calculator — Generate a full loan amortization breakdown of principal, interest, and remaining balance. Enter Loan amount, Annual rate (%), Term (years), Payment # to break down to get an instant, accurate result.

Formula

Monthly payment M = P·r(1+r)ⁿ / ((1+r)ⁿ−1), where P is principal, r is the monthly interest rate, and n is the number of monthly payments. Each month, interest = remaining balance × r, and principal paid = payment − interest; the balance carries forward reduced by the principal portion.

Step-by-step

  1. Enter the Loan amount.
  2. Enter the Annual rate (%).
  3. Enter the Term (years).
  4. Enter the Payment # to break down.
  5. Click Calculate to see your result instantly.

Real-world example

Example: With Loan amount = 300000, Annual rate (%) = 6.5, Term (years) = 30, Payment # to break down = 1, the Amortization Calculator gives Monthly Payment: 1896.2041, Total Interest: 382633.4654, Total Paid: 682633.4654.

Frequently Asked Questions

Why is the payment the same every month but the interest/principal split changes?
The payment is fixed, but interest is charged on the shrinking balance, so early payments are interest-heavy and later payments are increasingly principal-heavy.
Can I look up any individual payment in the schedule?
Yes, request a specific payment number to see that month's interest portion, principal portion, and remaining balance.
What inputs does the Amortization Calculator need?
You'll need to provide: Loan amount, Annual rate (%), Term (years), Payment # to break down. All fields use sensible defaults, so you can see a working example immediately and then adjust the values to match your own numbers.
How accurate is the Amortization Calculator?
The Amortization Calculator applies the formula exactly as calculated — Monthly payment M = P·r(1+r)ⁿ / ((1+r)ⁿ−1), where P is principal, r is the monthly interest rate, and n is the number of monthly payments. Each month, interest = remaining balance × r, and principal paid = payment − interest; the balance carries forward reduced by the principal portion. — so results are precise for the inputs you provide. Accuracy depends on entering correct, realistic input values.
Is the Amortization Calculator free to use?
Yes, the Amortization Calculator is completely free, requires no signup, and runs instantly in your browser.

About the Amortization Calculator

The Amortization Calculator uses a real, verifiable formula — Monthly payment M = P·r(1+r)ⁿ / ((1+r)ⁿ−1), where P is principal, r is the monthly interest rate, and n is the number of monthly payments. Each month, interest = remaining balance × r, and principal paid = payment − interest; the balance carries forward reduced by the principal portion. — so results are accurate every time, not an approximation.