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Amortization Calculator

Use this Amortization calculator to determine your monthly loan payments and understand how much interest you will pay over the life of the loan. Ideal for mortgages, auto loans, and other personal loans.

Amortization Calculator

Input Fields
P
$
Enter the total amount of the loan
r
%
Enter the annual interest rate
n
years
Enter the loan term in years
If enabled, the result will update automatically when you change any value.

Loan Amortization Formula

Formula
$$A = P \times \frac{r(1+r)^n}{(1+r)^n – 1}$$

Where:

  • $$P$$ = Loan principal (initial amount borrowed)
  • $$r$$ = Monthly interest rate (annual rate divided by 12)
  • $$n$$ = Total number of monthly payments (loan term in months)
  • $$A$$ = Monthly payment amount


The Amortization calculator helps you break down loan repayments into manageable monthly installments, showing the portion that goes toward principal and interest over time. By understanding your amortization schedule, you can plan your finances better and see how additional payments could save you money on interest. Key input values include loan amount, interest rate, and loan term.

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