CalculateItToday

Loan Amortization Calculator

Loan Details

Payment Summary

Enter loan details to see summary

Quick Examples

About Loan Amortization

This calculator generates a complete amortization schedule showing how your loan payments are split between principal and interest over time. Early payments are mostly interest, while later payments are mostly principal.

How It Works:

  • Calculates monthly payment using standard formula
  • Shows principal vs. interest breakdown for each payment
  • Displays remaining balance after each payment

Key Terms:

  • Principal: The original loan amount
  • Interest: Cost of borrowing the money
  • Amortization: Process of paying off debt over time

Monthly Payment Formula:

P = L[c(1 + c)^n]/[(1 + c)^n - 1]
where P = monthly payment, L = loan amount, c = monthly interest rate, n = total number of payments