Amortization Calculator
Generate a full loan amortization schedule with monthly principal, interest and balance.
Monthly payment
$1,580.17
Total interest
$318,861.58
Total payment
$568,861.58
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,580.17 | $226.00 | $1,354.17 | $249,774.00 |
| 2 | $1,580.17 | $227.23 | $1,352.94 | $249,546.77 |
| 3 | $1,580.17 | $228.46 | $1,351.71 | $249,318.31 |
| 4 | $1,580.17 | $229.70 | $1,350.47 | $249,088.61 |
| 5 | $1,580.17 | $230.94 | $1,349.23 | $248,857.67 |
| 6 | $1,580.17 | $232.19 | $1,347.98 | $248,625.48 |
| 7 | $1,580.17 | $233.45 | $1,346.72 | $248,392.03 |
| 8 | $1,580.17 | $234.71 | $1,345.46 | $248,157.32 |
| 9 | $1,580.17 | $235.98 | $1,344.19 | $247,921.34 |
| 10 | $1,580.17 | $237.26 | $1,342.91 | $247,684.08 |
| 11 | $1,580.17 | $238.55 | $1,341.62 | $247,445.53 |
| 12 | $1,580.17 | $239.84 | $1,340.33 | $247,205.69 |
How to use
- Enter the loan amount, annual interest rate and term in years.
- Review the monthly payment, total interest and total payment.
- Browse the amortization table month by month.
Formula
Monthly payment M = P × r × (1 + r)^n / ((1 + r)^n − 1).
Each month: interest = remaining balance × monthly rate; principal = payment − interest.
Example
$250,000 loan at 6.5% for 30 years:
Monthly payment ≈ $1,580; total interest ≈ $318,861 over the life of the loan.
Frequently asked questions
What is a loan amortization schedule?
An amortization schedule shows each monthly payment split into principal and interest, plus the remaining loan balance after each payment.
Why is more interest paid early in the loan?
Interest is calculated on the remaining balance. Early on, the balance is high so interest charges are larger relative to principal.
How do extra payments affect amortization?
Extra payments reduce the principal faster, shortening the loan term and reducing total interest. Use our mortgage payoff calculator for extra payment scenarios.
Is this the same as a mortgage amortization calculator?
Yes. The same formula applies to mortgages, auto loans, and personal loans with fixed monthly payments.
Can I print the amortization table?
Use your browser's print function to print the schedule shown on this page.
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