Amortization Calculator
Loan amortization schedule: monthly payment, principal, interest, and balance over time.
Use the Amortization Calculator
Enter principal, APR, and term. Amortization schedule and monthly payment are calculated.
Loan inputs
Principal, APR, term. Optional origination fee.
Results
Monthly payment
$2,028
Total interest
$21,658
Total cost
$121,658
Payoff (approx.)
Feb 2031
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,028 | $1,361 | $667 | $98,639 |
| 2 | $2,028 | $1,370 | $658 | $97,269 |
| 3 | $2,028 | $1,379 | $648 | $95,890 |
| 4 | $2,028 | $1,388 | $639 | $94,501 |
| 5 | $2,028 | $1,398 | $630 | $93,104 |
| 6 | $2,028 | $1,407 | $621 | $91,697 |
| 7 | $2,028 | $1,416 | $611 | $90,281 |
| 8 | $2,028 | $1,426 | $602 | $88,855 |
| 9 | $2,028 | $1,435 | $592 | $87,419 |
| 10 | $2,028 | $1,445 | $583 | $85,975 |
| 11 | $2,028 | $1,454 | $573 | $84,520 |
| 12 | $2,028 | $1,464 | $563 | $83,056 |
| 13 | $2,028 | $1,474 | $554 | $81,582 |
| 14 | $2,028 | $1,484 | $544 | $80,098 |
| 15 | $2,028 | $1,494 | $534 | $78,605 |
| 16 | $2,028 | $1,504 | $524 | $77,101 |
| 17 | $2,028 | $1,514 | $514 | $75,587 |
| 18 | $2,028 | $1,524 | $504 | $74,064 |
| 19 | $2,028 | $1,534 | $494 | $72,530 |
| 20 | $2,028 | $1,544 | $484 | $70,986 |
| 21 | $2,028 | $1,554 | $473 | $69,431 |
| 22 | $2,028 | $1,565 | $463 | $67,867 |
| 23 | $2,028 | $1,575 | $452 | $66,291 |
| 24 | $2,028 | $1,586 | $442 | $64,706 |
Showing first 24 months.
How this calculator works
Enter principal, APR, and term. Monthly payment and amortization schedule are calculated.
How to interpret your results
Use the schedule to see principal vs interest each month. Extra principal payments shorten the term.
FAQs
What is amortization?▾
Spreading loan payments over time. Early payments are mostly interest; later ones mostly principal.
How is payment calculated?▾
PMT = P × r(1+r)^n / ((1+r)^n − 1). P=principal, r=monthly rate, n=months.
Can I pay off early?▾
Yes. Extra principal reduces balance and total interest. Check for prepayment penalties.
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