By CalculatorInn Team · Updated: 2026-03-22 · Free & accurate · Instant results
Generate a complete amortization schedule for any loan showing how each payment splits between principal and interest over the life of the loan.
Interactive Amortization Calculator
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Payment = P × r × (1+r)^n / ((1+r)^n − 1)
Each payment splits between interest (balance × monthly rate) and principal (payment − interest). As the balance drops, more of each payment goes to principal.
Amortization is the process of paying off a loan with regular equal payments over time. Each payment covers both interest charges and a portion of the principal balance.
Interest is calculated on the remaining balance. Early on, the balance is highest, so interest charges are largest. As you pay down principal, more of each payment goes to principal.
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