Amortization Calculator
Create a monthly fixed-rate loan schedule showing each payment, principal repaid, interest charged and remaining balance.
Calculator arithmetic runs locally in your browser and does not require an API.
The interactive calculator loads here when JavaScript is enabled.
How to use Amortization Calculator
Enter principal, annual rate and term, then calculate. Use the schedule controls to review 50 payments at a time.
Formula and method
Monthly interest = opening balance × monthly rate. Principal repaid = payment − interest. Remaining balance = opening balance − principal repaid.
Understanding the results
Earlier payments generally contain more interest because the balance is larger. Schedule values are rounded to cents and the last payment is adjusted. Fees and extra payments are excluded.
Worked example
For 10,000 at 5% over 60 months, regular payment is 188.71. Month one has 41.67 interest, 147.04 principal and 9,852.96 remaining.
These are mathematical estimates, not financial advice or an offer of credit.
Frequently asked questions
Why does the interest portion shrink?
Interest is calculated on the remaining balance, which declines as principal is repaid.
Why are only 50 rows shown?
The schedule is paginated for readability; use Next and Previous to inspect the other monthly rows.
Does the schedule include extra payments?
No. It assumes the regular fixed payment, with only the final amount adjusted to clear the balance.