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Amortization Calculator

What does my loan amortization look like?

Enter a loan and see exactly how each payment pays it down, and when it will be gone.

One Click Answers · Amortization Calculator
oneclickanswers.com/amortization-calculator · Printed
About this tool & how to use it

What it does

See every payment of a loan split into principal and interest, the balance after each payment, yearly totals, the payoff date and what extra payments save, with a CSV download and a print view.

How to use it

  1. Enter the loan amount, the yearly rate and the term. Add an extra monthly payment to see its effect.
  2. Read the regular payment, total interest and the month the loan is paid off.
  3. Press "Get a detailed answer" for the full working: tables, charts and what-if comparisons.
  4. Download the schedule as CSV or print the detailed answer.

Added to every payment and applied to principal.

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Assumptions

  • A fixed rate and a level payment. Payments are monthly and start next month.
  • Fees, insurance and late charges are not included.
  • Extra payments are added to every payment and applied to principal.
  • Everything you enter is worked out in your browser and is never sent anywhere.

Printed from oneclickanswers.com. Results are estimates based on what was entered; see the assumptions above.

How we calculated this

Each month the interest is the balance times the monthly rate (yearly rate / 12), rounded to the cent. The rest of the payment goes to principal and the balance falls by that amount.

Early on the balance is large, so most of the payment is interest. As the balance shrinks, more of each payment goes to principal.

The schedule is the same engine as the Loan and Mortgage Payment calculators, so all three agree to the cent.

Formulas and details
  • Payment = P x r / (1 - (1 + r)^-n), r = yearly rate / 12, rounded to the cent.
  • Interest = balance x r (rounded to the cent); principal = payment - interest; new balance = balance - principal.

Assumptions

  • A fixed rate and a level payment. Payments are monthly and start next month.
  • Fees, insurance and late charges are not included.
  • Extra payments are added to every payment and applied to principal.
  • Everything you enter is worked out in your browser and is never sent anywhere.

Example

Input: $25,000 at 6% for 5 years, first payment next month

Result: Your regular payment is $483.32; you would pay $3,999.23 in interest over 5 years, and the loan is paid off 60 months after the first payment.

Questions

What does amortization mean?

It is paying a loan off in regular instalments, each covering that month's interest and part of the balance, until the balance reaches zero.

Why is so little principal paid at first?

Interest is charged on the whole balance, which is largest at the start, so interest takes most of the early payments.

Can I export the schedule?

Yes. The detailed answer has a Download CSV button on the schedule tables and a Print button.

Last reviewed 2026-10-08. Report an incorrect result

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