An amortization calculator shows the detailed payment schedule for a loan, breaking down each payment into principal and interest.
Generate a detailed amortization schedule with principal vs interest breakdown.
An amortization calculator generates a detailed payment schedule showing how each monthly payment is split between principal and interest over the life of the loan.
In early payments, most goes to interest. Over time, more goes to principal. A $200,000 loan at 6.5% over 30 years pays $1,264/month with $255,090 in total interest.
Principal vs Interest
Payment Breakdown
| # | Date | Payment | Principal | Interest | Cum. Interest | Balance |
|---|
An amortization schedule is a table showing each loan payment broken down into principal and interest portions, along with the remaining balance after each payment. Early payments are mostly interest; later payments are mostly principal.
The monthly payment is calculated using M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.
You can pay off a loan faster by making extra principal payments, switching to biweekly payments (26 half-payments = 13 full payments per year), or refinancing to a shorter term. Even small extra payments can save thousands in interest.