OneTaskBy Tim King · Updated
Amortization Schedule Calculator
Loan Amortization Table by Month or Year, With Total Interest Paid
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How the Amortization Schedule Calculator works
This amortization schedule calculator shows how a loan is paid down over its term. Enter the loan amount, the interest rate and the term to see the monthly payment, the total interest, and a yearly or month-by-month table splitting every payment into interest and principal with the balance left.
Amortization schedule calculator formula
A fully amortizing loan has one fixed payment that clears the balance exactly at the end of the term. The amortization schedule calculator finds it with the standard formula, where r is the monthly rate and n the number of payments:
Payment = loan × r ÷ (1 − (1 + r)^−n)
Each month the interest is the balance times r, and the rest of the payment reduces the balance. Early payments are mostly interest; late payments are mostly principal.
Worked example: a 30-year mortgage
300,000 at 6% over 30 years has a monthly payment of 1,798.65. Over 360 payments you pay 647,514.57, of which 347,514.57 is interest, 53.7% of the total. In the first year only 3,684.04 goes to principal while 17,899.78 goes to interest.
Worked example: a five-year car loan
25,000 at 7.5% over 5 years costs 500.95 a month and 5,056.92 in interest. In month one the interest is 25,000 × 0.625% = 156.25, so 344.70 reduces the balance. Switch to the monthly view to see how many payments pass before principal overtakes interest.
Amortization schedule reference table
Monthly payment per 100,000 borrowed at rates from 2% to 8%, over 15, 20, 25 and 30 years.
| Rate | 15 years | 20 years | 25 years | 30 years |
|---|---|---|---|---|
| 2.00% | 643.51 | 505.88 | 423.85 | 369.62 |
| 2.25% | 655.08 | 517.81 | 436.13 | 382.25 |
| 2.50% | 666.79 | 529.90 | 448.62 | 395.12 |
| 2.75% | 678.62 | 542.17 | 461.31 | 408.24 |
| 3.00% | 690.58 | 554.60 | 474.21 | 421.60 |
| 3.25% | 702.67 | 567.20 | 487.32 | 435.21 |
| 3.50% | 714.88 | 579.96 | 500.62 | 449.04 |
| 3.75% | 727.22 | 592.89 | 514.13 | 463.12 |
| 4.00% | 739.69 | 605.98 | 527.84 | 477.42 |
| 4.25% | 752.28 | 619.23 | 541.74 | 491.94 |
| 4.50% | 764.99 | 632.65 | 555.83 | 506.69 |
| 4.75% | 777.83 | 646.22 | 570.12 | 521.65 |
| 5.00% | 790.79 | 659.96 | 584.59 | 536.82 |
| 5.25% | 803.88 | 673.84 | 599.25 | 552.20 |
| 5.50% | 817.08 | 687.89 | 614.09 | 567.79 |
| 5.75% | 830.41 | 702.08 | 629.11 | 583.57 |
| 6.00% | 843.86 | 716.43 | 644.30 | 599.55 |
| 6.25% | 857.42 | 730.93 | 659.67 | 615.72 |
| 6.50% | 871.11 | 745.57 | 675.21 | 632.07 |
| 6.75% | 884.91 | 760.36 | 690.91 | 648.60 |
| 7.00% | 898.83 | 775.30 | 706.78 | 665.30 |
| 7.25% | 912.86 | 790.38 | 722.81 | 682.18 |
| 7.50% | 927.01 | 805.59 | 738.99 | 699.21 |
| 7.75% | 941.28 | 820.95 | 755.33 | 716.41 |
| 8.00% | 955.65 | 836.44 | 771.82 | 733.76 |
Quick answers
- 100,000 at 6% over 30 years is 599.55 a month.
- 100,000 at 5% over 25 years is 584.59 a month.
- Scale the table: 250,000 costs 2.5 times the per-100,000 payment.
- A shorter term raises the payment but cuts total interest sharply.
- Extra payments come off principal and shorten the schedule.
FAQ
What does amortization mean?
Amortization is paying off a debt in regular instalments that cover both interest and part of the principal, so the balance reaches zero at the end of the term. The schedule is the table that shows each instalment's split.
Why is so much of my early payment interest?
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls each month the interest part shrinks and the principal part grows, even though the total payment stays the same.
Does this work for interest-only or balloon loans?
No. It assumes a standard fully amortizing loan with equal monthly payments. Interest-only periods and balloon payments change the schedule, so use the interest-only mortgage calculator for those instead.
Can I print or export the schedule?
The table on the page can be copied straight into a spreadsheet, and the browser print option will print it. The monthly view of a 30-year loan runs to 360 rows, so the yearly view is easier to print.
See also: all Debt tools, Pay, Bills, Property, Investing, Saving.
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