Loan Calculator
Estimate your payment details and view a year-by-year amortization breakdown.
Amortization Schedule (Annual Summary)
| Year | Principal Paid | Interest Paid | Ending Balance |
|---|---|---|---|
Understanding Loan Amortization
When you repay a loan, your payments are split between paying off the original principal amount and the interest charged by the lender. Over time, as the outstanding balance drops, the interest portion of each payment decreases, and more goes toward principal reduction.
How to use this calculator
- Enter the **Loan Amount**—the initial balance you borrow.
- Enter the **Interest Rate**—the nominal annual rate charged.
- Enter the **Loan Term** in years.
- Select the **Payment Frequency** (Monthly, Bi-weekly, or Weekly).
- Click **Calculate Loan** to view the recurring payment amount, total interest costs, and annual amortization schedule.
The formulas explained
The regular payment is computed using the standard amortization formula:
$$ A = P \frac{r(1+r)^n}{(1+r)^n - 1} $$
- A: Regular payment per period.
- P: Principal loan amount.
- r: Periodic interest rate (annual interest rate divided by the number of payment periods per year).
- n: Total number of payment periods (years multiplied by periods per year).
More Finance Tools
Explore related calculators in this category
You Might Also Like
Popular tools from other categories
.htaccess Generator
Generate common .htaccess rules, force HTTPS, www redirect, and caching, with checkboxes.
1031 Exchange Calculator - Free Online
Free Calculate tax deferral in a 1031 exchange. Step-by-step solutions and formulas included. Fast, accurate, and free, with formula and example.
70% Rule Calculator
Calculate max offer using the 70% rule for flips.
A1C Calculator - Free Online
Free Convert between A1C percentage and estimated average glucose. Step-by-step solutions and formulas included. Simple, fast, and free.
Can't Find the Right Calculator?
Try our AI Math Solver, type any problem in plain English and get instant step-by-step solutions.