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Amortization Schedule Calculator
This calculator breaks down your loan repayment schedule month by month, showing how much goes toward interest and principal with each payment. Use it to understand how your loan balance decreases over time and how different terms and interest rates affect your total cost. It's a valuable tool for anyone who wants to see the full financial picture behind a loan.
Amortization Schedule
Want your money to grow faster? It’s all about time, rate, and compounding frequency.
An amortization schedule shows you the full life of your loan — from the first payment to the last. It breaks down each monthly payment into two parts: what goes toward interest and what goes toward reducing your principal balance. Early in the loan, interest makes up a larger portion of your payment; over time, that shifts and more goes toward principal.
This calculator lets you visualize that shift and see exactly how your balance decreases month by month. To use it, enter your loan amount, interest rate, and term. The schedule will then show you the payment breakdown, including total interest paid by the end of the loan.
Understanding amortization is key to evaluating refinancing offers, planning early payoffs, or simply knowing how your money is being applied each month.
Financial Terms:
- Amortization: The process of gradually paying off a loan through scheduled payments that cover both interest and principal.
- Principal: The original loan amount before interest is applied.
- Interest: The cost of borrowing, typically calculated as a percentage of the loan balance.
- Loan Term: The total duration of the loan, usually expressed in months or years.
- Amortization Schedule: A breakdown of each payment showing how much goes toward interest vs. principal, and how the remaining balance changes over time.
