Amortization Calculator
See exactly how a loan is paid off over time. Enter the loan amount, interest rate and term, and the calculator shows your monthly payment, the total interest, and a year-by-year schedule of how much goes to interest, how much to principal and what is left to pay.
| Year | Interest | Principal | Balance |
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Last reviewed January 15, 2026.
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.