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Amortization Calculator

Updated January 2026

An amortization calculator generates a complete payment-by-payment schedule showing how much of each payment goes toward principal versus interest. See your loan balance decline over time and the total interest you'll pay over the full term.

How to Use This Calculator

Enter the loan amount, interest rate, and loan term in years. Click Calculate to see your monthly payment, total interest, total payment, and a full amortization schedule showing every period's principal and interest breakdown along with the remaining balance after each payment.

How It's Calculated

First, the monthly payment is calculated using the standard amortization formula:

M = P × [ i(1+i)^N ] / [ (1+i)^N − 1 ]

Then for each period k from 1 to N:

  • Interest_k = Remaining_Balance_(k−1) × i
  • Principal_k = M − Interest_k
  • Remaining_Balance_k = Remaining_Balance_(k−1) − Principal_k

Where i is the monthly interest rate (annual rate / 12) and N is the total number of payments. For a 30-year mortgage, that's 360 rows — each showing the gradual shift from interest-heavy payments to principal-heavy ones.

Frequently Asked Questions

An amortization schedule is a complete table of every loan payment over the full term, broken down by the portion that goes toward principal versus interest, plus the remaining balance after each payment. It shows you exactly how your loan balance declines over time and how much of each payment goes to interest versus principal — which shifts from mostly interest early on to mostly principal toward the end.
In the early years of an amortizing loan, your outstanding balance is highest, so the interest charged each month is also highest. Each payment covers all the interest that has accrued since your last payment, with the remainder going toward principal. As the principal balance decreases, the interest portion shrinks, and more of your fixed payment goes toward principal. This is called "front-loaded" interest and is the standard structure of amortizing loans.
Yes, this calculator allows you to view your full amortization schedule on screen and download it as a CSV or print it. Having the schedule lets you track your loan progress, plan extra payments, and see exactly when you'll be debt-free. Many homeowners keep their amortization schedule for tax planning, since mortgage interest may be tax-deductible.

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