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
Loan Amortization 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.