Amortization Calculator

An amortization calculator shows how a fixed-rate loan is paid down over its term. Enter the loan amount, the annual interest rate and the term in years to get the monthly payment, the total interest and the way the first payment splits between principal and interest. A second tab reports the balance still owed once a given number of payments has been made. The figures assume the rate never changes and every payment lands on time, so treat the schedule as an estimate rather than a lender quote.