Amortization Schedule Calculator
This amortization schedule calculator shows exactly how a fixed-rate loan is paid off over time. Enter the loan amount, the annual interest rate and the term in years, and it instantly returns the fixed monthly payment along with a complete month-by-month table. Each row of the schedule splits the payment into the part that covers interest and the part that reduces the outstanding balance, so you can see how much you still owe after any given month. It works for mortgages, car loans, personal loans and student loans — any loan repaid in equal installments. Seeing the full breakdown helps you understand the true cost of borrowing, compare offers, and decide whether extra payments are worth making.
Monthly payment
Total interest
Total paid
| Month | Interest | Principal | Balance |
|---|---|---|---|
Fixed-rate French amortization with a constant payment. Real loans may include fees, insurance and taxes that are not reflected in this estimate.
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How it works
The calculator uses the French amortization system, in which every monthly installment is the same amount for the whole life of the loan. The fixed payment is found with the formula payment = P · r / (1 − (1 + r)^−n), where P is the loan amount, r is the monthly interest rate (the annual rate divided by 12) and n is the total number of monthly payments. Within each payment, the interest portion is the current balance multiplied by r, and whatever remains goes toward the principal. Because the balance is high at the start, early payments are mostly interest and repay little principal; as the balance shrinks, later payments are mostly principal. The schedule repeats this month after month until the balance reaches zero.
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Preguntas frecuentes
- What is an amortization schedule?
- An amortization schedule is a table that lists every payment of a loan and shows how each one is divided between interest and principal, along with the remaining balance after the payment. It lets you see, month by month, how the debt is paid down until it reaches zero.
- Why is early payment mostly interest?
- Interest each month is charged on the outstanding balance. At the beginning of the loan the balance is at its highest, so a large share of the fixed payment goes to interest and only a little reduces the principal. As the balance falls, the interest portion shrinks and more of each payment goes to principal.
- What is the French amortization system?
- The French system is the most common repayment method, where the monthly payment stays constant for the entire loan. The payment is calculated so that interest plus principal always add up to the same amount, with the interest share decreasing and the principal share increasing over time.
- How can I pay off my loan faster?
- Making extra payments toward the principal, paying more than the required installment, or choosing a shorter term all reduce the total interest you pay. Because interest is charged on the balance, any early reduction of the principal saves interest on every remaining month.
- Does this calculator include fees and insurance?
- No. It computes the pure principal-and-interest schedule for a fixed-rate loan. Real loans often add arrangement fees, mandatory insurance and taxes, so the actual amount you pay each month may be higher than the payment shown here.