Amortization Calculator
See your exact monthly payment, total interest, and a full month-by-month amortization schedule for any fixed-rate loan.
| Month | Payment | Principal | Interest | Remaining balance |
|---|
How It Works
Each month you pay a fixed amount calculated with the standard amortization formula: M = P × r(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the number of monthly payments.
From each monthly payment, the interest portion is the remaining balance multiplied by the monthly rate, and the rest goes toward principal. As the balance shrinks, the interest portion shrinks and the principal portion grows, which is why the schedule front-loads interest.
Total interest is the sum of every interest portion across all months. The remaining balance column shows what you still owe after each payment.