Educational Financial Insight.
This calculator uses the amortization formula to calculate the monthly payments on a loan. Amortization is the process of spreading a loan into a series of fixed payments using a standard mathematical model so you can estimate how the balance may fall over the life of the loan.
Educational Core
The loan amortization formula
A
Monthly Payment
P
Principal Loan Amount
r
Monthly Interest Rate
n
Total Number of Months
Educational Focus
Visualizing Debt Cycles
Features such as down payment and extra monthly payment help you see how additional contributions reduce interest paid over the life of your loan.
Interest Heavy Start
At first, most of your payment goes toward interest because the principal balance is high.
Principal Shift
As the balance decreases, more of each payment goes toward principal over time.
Built for learning
What this tool provides
Monthly payment calculations based on the standard amortization formula
A full payment-by-payment schedule showing interest vs principal
Visual charts of your loan balance and payment breakdown over time
Support for down payments (% or amount) and extra monthly payments
CSV export of the full amortization schedule
What this tool is not
Financial, legal, tax, or investment advice
A replacement for speaking with a qualified financial advisor
Guaranteed to match your lender's exact repayment schedule
A model of fees, variable rates, or lender-specific conditions
A commitment or offer of any financial product
Ready to explore?
Use our calculator to visualize your own repayment path and compare different loan scenarios.
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