Amortization Calculator
Planning amortization is easier when the main numbers are in one place. Add your figures to the Amortization Calculator, then read the notes below the result to see what is included.
| Year | Interest | Principal | Balance |
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Last reviewed January 15, 2026 — see our editorial & accuracy policy.
Method: Builds the full schedule iteratively: each period, interest = balance × periodic rate; principal = payment − interest; balance reduces by the principal portion.
How it works
Each month, interest is charged on the remaining balance (balance × monthly rate). The rest of the fixed payment reduces the principal. Early on, most of the payment is interest; over time more goes to principal. The schedule adds these up for each year until the balance reaches zero.
How to use the Amortization Calculator
Enter the values requested by the tool and start with one realistic example. Read the result together with its unit or label, then change one input at a time if you want to compare options. Keeping a note of the original figures makes the calculation easier to check later.
Use the result as a planning estimate rather than a quote or guarantee. Rates, fees, tax rules and personal circumstances can change the final figure.