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Amortization Calculator

Generate a full amortization schedule so you can see how every payment splits between principal and interest over the life of a loan.

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Formula

Amortization formula

Payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1]
  • The formula gives the fixed recurring payment for an amortizing loan.
  • Early payments are interest-heavy, while later payments pay down more principal.
  • The schedule helps you see when equity starts building faster.

Example scenarios

Use it like a decision tool

Mortgage payoff visibility

$420,000 loan · 6.2% · 30 years

Shows exactly how slowly principal moves in the early years and why rate changes matter so much.

Extra payment planning

Compare original payment with an accelerated payoff strategy

A schedule makes it easier to see where extra payments create the biggest interest savings.

FAQ

Common questions

What is an amortization schedule?

It is a payment table showing how each installment is divided between interest, principal, and remaining balance over time.

Why does so much of the early payment go to interest?

Because interest is charged on the largest outstanding balance at the beginning of the loan.

Can I use this for more than mortgages?

Yes. It works for any fixed-payment amortizing loan such as auto loans, personal loans, and many refinance scenarios.