Amortization Calculator
Calculate payments and view an amortization schedule for a fixed-rate loan.
Inputs
Result
Enter values on the left and select Equals to see the result here.
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What the Amortization Calculator does
- Calculates monthly loan payment and totals.
- Displays an amortization schedule showing principal, interest, and remaining balance over time.
How to use the Amortization Calculator
- Choose currency and enter loan amount, interest rate, and term.
- Click Calculate to see totals and the schedule table.
Formula / methodology used
- Uses the standard fixed-rate amortization payment formula.
- Each month: interest is calculated from remaining balance; the rest of the payment reduces principal.
Example calculation
Loan $20,000, 5% APR, 4 years.
- Compute monthly payment
- Iterate monthly to split interest vs principal
Result: Outputs totals plus a month-by-month schedule.
Amortization Calculator FAQs
Why does interest start higher?
Early payments are applied to a larger remaining balance, so interest is higher at the start.