Amortization Calculator
Find a loan's payment and its full amortization schedule, with extra monthly, yearly or one-time payments.
Change the values and press Calculate to work out your own figures.
Enter the amount, rate and term.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $11,769.24 | $8,483.28 | $191,516.72 |
| 2 | $11,245.98 | $9,006.54 | $182,510.18 |
| 3 | $10,690.51 | $9,562.01 | $172,948.17 |
| 4 | $10,100.73 | $10,151.79 | $162,796.38 |
| 5 | $9,474.60 | $10,777.92 | $152,018.46 |
| 6 | $8,809.81 | $11,442.71 | $140,575.75 |
| 7 | $8,104.06 | $12,148.46 | $128,427.29 |
| 8 | $7,354.77 | $12,897.75 | $115,529.54 |
| 9 | $6,559.28 | $13,693.24 | $101,836.30 |
| 10 | $5,714.71 | $14,537.81 | $87,298.49 |
| 11 | $4,818.06 | $15,434.46 | $71,864.03 |
| 12 | $3,866.08 | $16,386.44 | $55,477.59 |
| 13 | $2,855.42 | $17,397.10 | $38,080.49 |
| 14 | $1,782.38 | $18,470.14 | $19,610.35 |
| 15 | $643.19 | $19,610.35 | $0.00 |
Show the working
- payment = P × i ÷ (1 − (1 + i)^−n)
- each payment: interest = balance × i (to the cent), the rest repays principal
How to use it
Enter the amount, rate and term.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
payment = P × i ÷ (1 − (1 + i)^−n), i = rate ÷ 12 each month: interest = balance × i (to the cent); principal = payment − interest
Extra payments
Extra principal early in a loan saves the most interest: $50 a month on $150,000 at 5.45% over 25 years saves about $14,700 and 2.5 years.
Questions
What is the payment on $200,000 at 6% for 15 years?
$1,687.71 a month.
Formulas
payment = P × i ÷ (1 − (1 + i)^−n), i = rate ÷ 12 each month: interest = balance × i (to the cent); principal = payment − interest
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.