Loan / Amortization Calculator

How it works

Enter the loan amount, annual interest rate, and term in years. The calculator computes the fixed monthly payment using the standard amortization formula, then builds a full month-by-month schedule showing how each payment splits between principal and interest as the balance is paid down — entirely in your browser.

Example

FAQ

How is the monthly payment calculated?

Using the standard amortized-loan formula, which produces a fixed payment where the interest portion shrinks and the principal portion grows every month as the balance decreases.

What is an amortization schedule?

A month-by-month breakdown of every payment showing exactly how much goes toward interest versus principal, and the remaining balance after each payment.

Why does a payment in the schedule sometimes show a cent more or less?

The exact monthly payment usually runs past two decimal places — for example $1,199.10105 on a $200,000 loan at 6% over 30 years — but the schedule shows whole cents. It is rounded so that every column adds up exactly: the principal column totals the loan amount, and the interest column totals the interest shown above. That occasionally moves a row’s payment by a cent.