Amortization Calculator

A schedule that runs from the first payment to zero.

PRINCIPAL & INTEREST - FULL SCHEDULE - RUNS ON YOUR DEVICE

The figures stay in your browser

  • Everypayment listed
  • 3columns that matter
  • Endsat zero
  • 0data sent
Specification

Amortization Calculator at a glance

Inputs
Amount, rate, term, frequency
Each row
Interest, principal, balance
Method
Fixed-rate, fixed-term formula
Output
A printable table
Extra payments
Extra goes onto the principal
Price
Free
Account required
No
Where it runs
On your device
How to

How to use Amortization Calculator

  1. 1

    Enter the terms

    Enter the terms.

  2. 2

    Pick the period

    Pick the period.

  3. 3

    Read down the table

    Read down the table.

Questions

Frequently asked questions

What does amortization mean?

Clearing a debt through regular equal payments, where each one covers the period's interest first and puts the rest against the balance until it reaches zero.

Why does the interest column shrink?

Interest is charged on the balance still owed. As the balance falls with each payment, the interest charged next period falls with it.

Can I model paying extra?

Yes. Put a figure in the extra payment field and every row carries it. The balance reaches zero before the term does, and the Payments made row tells you how many months you saved.

Can I save the table?

Use your browser's print command, which prints the schedule or saves it as a PDF for your records.

Background

How a row is built

Amortization means clearing a debt with regular equal payments. Each row shows the interest charged that period, the principal repaid, and the balance carried forward.

  • Interest for the period comes from the balance at the start of it, at the rate for that period.
  • The rest of the payment reduces the balance, which is what the next row starts from.
  • Because the balance keeps falling, the principal part of each payment keeps growing.
  • The final row leaves a zero balance, which makes it a schedule rather than an estimate.

Full specification

Specification of the Amortization Calculator tool
InputsAmount, annual interest rate, term in years or months, and how often you pay.
Each rowThe interest charged that period, the principal repaid, and the balance left.
MethodThe standard fixed-rate, fixed-term formula, so the payment is level throughout.
OutputA printable HTML table covering the whole term.
Extra paymentsAn extra amount each month goes onto the principal, so the rows run out sooner.
PriceFree
Account requiredNo
Where it runsIn your browser tab. Nothing is sent anywhere.
Next step

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