Loan Amortization
Amortization Schedule Calculator
Generate complete amortization schedule with monthly/yearly breakdown.
🏦 Loan Details
Loan Amount
$
Interest Rate
%
📅 Term & Payment
Loan Term
Payment Frequency
Payment frequency affects total interest
💰 Extra Payment
Extra Payment
$
Extra payment reduces interest and term
Interest
0%
Payment Amount
$0
per month
Total Payment
$0
Total Interest
$0
Interest Saved
$0
Payoff Time
0 months
📊 Amortization Schedule
| Period | Payment | Principal | Interest | Balance |
|---|
How the formula works
Payment = P × r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]
- P = Principal loan amount
- r = Periodic interest rate (annual rate ÷ periods per year ÷ 100)
- n = Total number of payments
- Total Payment = Payment × n, Total Interest = Total Payment − P
- Extra Payment = Additional amount paid each period to reduce principal faster