Loan Amortization Schedule Calculator

What is a Loan Amortization Schedule?

While a basic loan calculator only tells you the monthly payment, an amortization schedule shows exactly how each individual payment splits between principal and interest, and how the remaining balance shrinks over the full life of the loan.

The formula

Monthly payment: 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. Each month, interest is calculated on the remaining balance, and the rest of the payment reduces principal.

Why early payments are mostly interest

Early in a loan, the balance is still high, so a larger share of each fixed payment goes to interest; as the balance shrinks over time, more of each payment goes toward principal instead — even though the total payment amount stays the same every month.

How to use it

1. Enter the loan amount, annual interest rate, and term in years.
2. Review the monthly payment and total interest over the life of the loan.
3. Scroll the schedule to see any specific month's principal/interest split and remaining balance.