Finance

Amortization Calculator

This amortization calculator shows the monthly principal-and-interest payment and how each year splits between principal and interest.

Loan amount

Principal only. Must be greater than zero.

APR (%)

Annual percentage rate. 0% is allowed.

Term (years)

Whole or decimal years. Combined with extra months below.

Extra months (optional)

Added to the year term. Example: 5 years + 6 months.

First payment date (optional)

Used only to label the schedule and estimate a payoff date.

Payment estimate

Monthly P&I: $1,896.20
Number of payments: 360
Total of payments: $682,636.71
Total interest: $382,636.71

Estimate of principal and interest only. Not a loan offer, not taxes, insurance, or escrow, and not a rate quote.

Advertiser disclosure: A finance partner link will show here when it is live. We may earn a commission if you use it. This is not a loan offer, and the calculator result does not change.

Amortization schedule

Year-by-year principal versus interest
Year	Principal	Interest	Remaining
	$3,353.12	$19,401.28	$296,646.88
Month 1	$271.20	$1,625.00	$299,728.80
Month 2	$272.67	$1,623.53	$299,456.13
Month 3	$274.15	$1,622.05	$299,181.98
Month 4	$275.63	$1,620.57	$298,906.35
Month 5	$277.12	$1,619.08	$298,629.23
Month 6	$278.63	$1,617.57	$298,350.60
Month 7	$280.13	$1,616.07	$298,070.47
Month 8	$281.65	$1,614.55	$297,788.82
Month 9	$283.18	$1,613.02	$297,505.64
Month 10	$284.71	$1,611.49	$297,220.93
Month 11	$286.25	$1,609.95	$296,934.68
Month 12	$287.80	$1,608.40	$296,646.88
	$3,577.68	$19,176.72	$293,069.20
	$3,817.29	$18,937.11	$289,251.91
	$4,072.94	$18,681.46	$285,178.97
	$4,345.71	$18,408.69	$280,833.26
	$4,636.75	$18,117.65	$276,196.51
	$4,947.30	$17,807.10	$271,249.21
	$5,278.62	$17,475.78	$265,970.59
	$5,632.13	$17,122.27	$260,338.46
	$6,009.32	$16,745.08	$254,329.14
	$6,411.79	$16,342.61	$247,917.35
	$6,841.18	$15,913.22	$241,076.17
	$7,299.36	$15,455.04	$233,776.81
	$7,788.20	$14,966.20	$225,988.61
	$8,309.84	$14,444.56	$217,678.77
	$8,866.33	$13,888.07	$208,812.44
	$9,460.12	$13,294.28	$199,352.32
	$10,093.70	$12,660.70	$189,258.62
	$10,769.69	$11,984.71	$178,488.93
	$11,490.95	$11,263.45	$166,997.98
	$12,260.53	$10,493.87	$154,737.45
	$13,081.64	$9,672.76	$141,655.81
	$13,957.73	$8,796.67	$127,698.08
	$14,892.51	$7,861.89	$112,805.57
	$15,889.89	$6,864.51	$96,915.68
	$16,954.05	$5,800.35	$79,961.63
	$18,089.49	$4,664.91	$61,872.14
	$19,300.99	$3,453.41	$42,571.15
	$20,593.64	$2,160.76	$21,977.51
	$21,977.51	$781.60	$0.00

Tap a year to see that year’s monthly rows. A 30-year loan has 360 months; the yearly view keeps the table usable.

How to use

Enter the loan amount, APR, and term.
Read the monthly payment and total interest.
Use the schedule to see the balance fall year by year. Taxes, insurance, and extra payments are not included.

Formula

Monthly payment M = P × r(1+r)^n / ((1+r)^n − 1), where P is principal, r is the annual rate divided by 12, and n is the number of months. Each month, interest is the remaining balance × r, and the rest of the payment reduces principal.

Example. A $200,000 loan at 6% APR for 30 years (360 months) has a principal-and-interest payment of about $1,199.

Frequently asked questions

What is an amortization schedule?

A table of each payment showing how much goes to interest vs principal and the remaining balance.

What formula is the payment?

M = P × r(1+r)^n / ((1+r)^n − 1), with r as the monthly rate and n as the number of months.

Does this include taxes and insurance?

No. It models principal and interest only. Escrow is extra.

Can I model extra payments?

This page is the standard schedule. Use the Mortgage Payoff Calculator for extra monthly or lump-sum principal and interest saved.

Is this a loan offer?

No. Enter a quoted rate. This page does not pull live lender rates.