Finance
Amortization Schedule Calculator
Calculate your monthly loan payment and see how much goes towards principal and interest over the life of the loan.
Disclaimer: This calculator provides estimates for informational and educational purposes only. It is not a substitute for professional financial advice, tax planning, or investment guidance. Always consult a qualified financial advisor for decisions affecting your finances. Results depend on the accuracy of inputs provided.
FAQ
Frequently asked questions
What is an amortization schedule?
An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off.
How is the monthly payment calculated?
It uses the formula M = P [ r(1 + r)^n ] / [ (1 + r)^n - 1 ], where P is principal, r is monthly interest rate, and n is number of months.