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Amortization Schedule Calculator

View your loan amortization breakdown with principal and interest.

Last updated: June 13, 2026

Calculator

Loan Amount

Interest Rate

Loan Term

Results

Monthly Payment$1,770

Total Interest$357,125

128% of principal

Year 1 Breakdown$3,130 principal / $18,108 interest

85% goes to interest

Balance at Year 15$203,166

Halfway through loan

How to Use This Calculator

1Enter the loan amount.
2Enter the annual interest rate.
3Enter the loan term in years.
4View the complete month-by-month amortization table.

Formula Explanation

An amortization schedule shows how each fixed monthly payment is split between principal and interest, with the principal portion growing over time as the balance decreases.

Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1] Interest = Remaining Balance × Monthly Rate Principal = Monthly Payment - Interest

Variables:

POriginal loan amount

rMonthly interest rate

nTotal number of monthly payments

Worked Examples

$200,000 loan, 6%, 30 years

1. Monthly payment = $1,199.10
2. Month 1: $1,000 interest + $199.10 principal
3. Month 180: $612.49 interest + $586.61 principal
4. Month 360: $5.96 interest + $1,193.14 principal

Result: $1,199.10/month — $231,677 total interest over 30 years

Why Use This Calculator

See exactly where every dollar goes each month.
Track your equity buildup over time.
Plan for early payoff by seeing principal vs interest splits.
Useful for any amortizing loan — mortgages, auto loans, personal loans.

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Tips & Best Practices

In the first years, most of your payment goes to interest, not principal.
Making extra principal payments early has the biggest impact.
Print your schedule and track actual vs planned payments.
Use this to compare different loan terms and rates side by side.

Common Mistakes to Avoid

❌ Assuming principal and interest are split evenly.

✅ In early years, 70-80% of each payment may go to interest. The principal portion grows over time as the balance shrinks.

❌ Not reviewing the schedule before committing to a loan.

✅ The amortization schedule reveals the true cost. See how much interest you pay total before signing.

Frequently Asked Questions

Why do I pay so much interest at the start?

Interest is calculated on the remaining balance. With a large balance in early years, the interest charge is high and the principal portion is small. As the balance shrinks, more of each payment goes to principal.

How does the amortization change with a shorter term?

A shorter term means higher monthly payments but dramatically less total interest. A 15-year $200K loan at 6% saves $130,000+ in interest compared to 30 years.

Can I use this for car loans?

Yes. Amortization schedules work for any fixed-rate loan — mortgages, car loans, personal loans, student loans. Enter the loan amount, rate, and term.

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Add the Amortization Schedule Calculator to your website for free. Copy the code below and paste it into your HTML.

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<iframe src="https://redicalc.com/embed/finance/amortization-schedule-calculator" width="100%" height="600" style="border:none;border-radius:12px;box-shadow:0 1px 3px rgba(0,0,0,0.1);" title="Amortization Schedule Calculator — RediCalc.com" loading="lazy" allowtransparency="true"></iframe>

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Disclaimer: This calculator is provided for informational and educational purposes only. Results are estimates and should not be used as a substitute for professional advice. RediCalc.com makes no guarantees regarding the accuracy, completeness, or suitability of any calculations. Always consult a qualified professional before making financial, health, construction, or other important decisions.

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