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About the Amortization Calculator
The Amortization Calculator builds a full repayment schedule for any fixed-rate loan. It shows each payment split into principal and interest, the remaining balance after every period, and the total interest paid over the life of the loan, with monthly or yearly views.
The calculation uses the standard amortization formula P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of payments. You enter the loan amount, interest rate, loan term, and start date. The calculator then returns the payment amount plus a period-by-period schedule. A practical tip: compare a shorter term against your current one and watch the total interest change.
- Enter your loan amount, annual interest rate, and loan term.
- Choose a monthly or yearly schedule view and calculate.
- Review the payment breakdown and remaining balance for each period.