- Fill in Loan Principal, Annual Interest Rate, and Loan Term. Each control is labeled; you do not need to paste a JSON blob.
- Click "Calculate" to run the tool in your browser.
- Read the result below the form and copy it if you need it in another app.
Loan Amortization Calculator
The Loan Amortization Calculator calculates the monthly payment for a loan and generates a
Configuration for this calculator is missing.
How to Use This Tool
Learn More About Loan Amortization Calculator
Understanding Loan Amortization
Loan amortization is the process of paying off a loan over time through regular payments. Each payment typically includes a portion of the principal (the original loan amount) and a portion of the interest (the cost of borrowing the money).
Loan Amortization Formula
The formula to calculate the monthly payment (M) is: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ] Where: P = Principal loan amount i = Monthly interest rate (annual rate / 12) n = Number of payments (loan term in years * 12)
Understanding the Amortization Schedule
The amortization schedule shows how each payment is allocated between principal and interest over the life of the loan. In the early years, a larger portion of the payment goes towards interest, and as the loan is paid down, a larger portion goes towards principal.
About
The Loan Amortization Calculator calculates the monthly payment for a loan and generates an amortization schedule, showing how each payment is allocated between principal and interest over the loan term.
Examples
Valid loan inputs
Principal, rate %, term months
Input
{
"loan_amount": 200000,
"interest_rate": 4.5,
"loan_term": 30
}Output
Month | Payment | Principal | Interest | Balance ------|---------|-----------|----------|-------- 1 | 7061.18 | 6311.18 | 750.00 | 193688.82 2 | 7061.18 | 6334.84 | 726.33 | 187353.98 3 | 7061.18 | 6358.60 | 702.58 | 180995.38 4 | 7061.18 | 6382.44 | 678.73 | 174612.94 5 | 7061.18 | 6406.38 | 654.80 | 168206.56 6 | 7061.18 | 6430.40 | 630.77 | 161776.16 7 | 7061.18 | 6454.51 | 606.66 | 155321.65 8 | 7061.18 | 6478.72 | 582.46 | 148842.93 9 | 7061.18 | 6503.01 | 558.16 | 142339.91 10 | 7061.18 | 6527.40 | 533.77 | 135812.51 11 | 7061.18 | 6551.88 | 509.30 | 129260.64 12 | 7061.18 | 6576.45 | 484.73 | 122684.19 ... (18 more months) Total payment: $211835.26 | Total interest: $11835.26
Another valid loan input
Principal, rate %, term months
Input
{
"loan_amount": 100000,
"interest_rate": 6,
"loan_term": 15
}Output
Month | Payment | Principal | Interest | Balance ------|---------|-----------|----------|-------- 1 | 6936.44 | 6436.44 | 500.00 | 93563.56 2 | 6936.44 | 6468.62 | 467.82 | 87094.95 3 | 6936.44 | 6500.96 | 435.47 | 80593.98 4 | 6936.44 | 6533.47 | 402.97 | 74060.52 5 | 6936.44 | 6566.13 | 370.30 | 67494.38 6 | 6936.44 | 6598.96 | 337.47 | 60895.42 7 | 6936.44 | 6631.96 | 304.48 | 54263.46 8 | 6936.44 | 6665.12 | 271.32 | 47598.34 9 | 6936.44 | 6698.44 | 237.99 | 40899.90 10 | 6936.44 | 6731.94 | 204.50 | 34167.96 11 | 6936.44 | 6765.60 | 170.84 | 27402.36 12 | 6936.44 | 6799.42 | 137.01 | 20602.94 ... (3 more months) Total payment: $104046.55 | Total interest: $4046.55
Use Cases
- Calculating monthly payments for loans.
- Understanding the breakdown of principal and interest payments.
- Comparing different loan options.
- Planning for loan repayment.