Amortization calculator
Calculator
The calculator needs JavaScript. The tables below give the same numbers for common cases.
How it is worked out
- Each month interest = balance × 0.005; the rest of the payment reduces the balance.
- Month 1: interest $1,000.00, principal $199.10.
- The last payment: interest $5.97, principal $1,193.14.
| Inputs | Answer |
|---|---|
| Loan amount: 200000; Annual interest rate: 6; Term: 30 | The payment is $1,199.10 a month; the loan costs $231,676.38 in interest over 30 years. |
| Loan amount: 30000; Annual interest rate: 7.5; Term: 10 | The payment is $356.11 a month; the loan costs $12,732.64 in interest over 10 years. |
| Loan amount: 500000; Annual interest rate: 5; Term: 25 | The payment is $2,922.95 a month; the loan costs $376,885.06 in interest over 25 years. |
How to use it
An amortization schedule shows how every payment is split: each month interest equals the balance times the monthly rate, and the rest of the payment reduces the balance. Early payments are mostly interest, late payments mostly principal.
The result lists each year's interest and principal and the balance at its end, and the steps give the first and last payment split. These are estimates from the numbers you type, not financial advice or an offer; real products add fees and change rates.
Frequently asked questions
What is amortization?
Paying off a loan with regular equal payments that cover interest and part of the principal.
Why does the balance fall slowly at first?
Because the interest on the large early balance takes most of each payment.
Can I see every month?
The page shows yearly totals; the payment itself does not change.
Method: standard arithmetic shown step by step; no outside data is used. Checked 2026-11-12.
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General information only. Results are plain arithmetic on the numbers you enter; check anything important (money, health, school work) against your own records or the official source.