Amortization Schedule

Loan Amortization Schedule Calculator

Input Fields

Loan amount

P

$

Enter the total amount of the loan

Annual interest rate

r

%

Enter the annual interest rate

Loan term

n

years

Enter the loan term in years

CalculateReset

Calculate automaticallyIf enabled, the result will update automatically when you change any value.

Your Results

Monthly Payment

Total Payment

Total Interest

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Loan Amortization Formula

$$\text{Monthly Payment:}\quad M = P \times \frac{r/12}{1 – (1 + r/12)^{-12n}} \\ \text{Total Payment:}\quad \\ \text{Total} = M \times 12n \\ \text{Total Interest:}\quad \\ \text{Interest} = \text{Total Payment} – P$$

Where:

• $$M$$ = Monthly payment amount
• $$P$$ = Loan principal (initial loan amount)
• $$r$$ = Annual interest rate (as decimal)
• $$n$$ = Loan term in years
• $$Total Payment$$ = Sum of all monthly payments over the loan term
• $$Interest$$ = Total amount of interest paid over the loan duration

This calculator helps you generate a complete amortization schedule showing each month’s payment breakdown into principal and interest, and tracks the remaining balance. By understanding your schedule, you can plan additional repayments to reduce the total interest paid and shorten your loan term.