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Amortization Calculator
Estimate your monthly payment.
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Full Amortization Schedule

Get a complete month-by-month amortization table, extra payment modelling, and total interest comparisons.

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Frequently Asked Questions

What is an amortization calculator?

An amortization calculator breaks a loan into equal periodic payments that cover both principal and interest, showing how much of each payment goes to each component over time.

How is a monthly loan payment calculated?

The monthly payment is calculated using the formula M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the loan principal, r is the monthly interest rate, and n is the number of payments.

What is the difference between simple interest and amortized interest?

Simple interest is applied to the original principal only. Amortized interest is recalculated on the outstanding balance each period, so early payments are mostly interest while later payments are mostly principal.