Loan Amortization Calculator
Generates a full payment schedule showing principal and interest breakdown for each payment
Enter loan details to see the amortization schedule
The total interest paid over the life of the loan
Principal plus total interest
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule is a table showing each loan payment broken down into principal and interest portions. Early payments are mostly interest, while later payments are mostly principal. The schedule shows exactly how your loan balance decreases over time.
Why do I pay more interest early in the loan?
Interest is calculated on the remaining balance. Since the balance is highest at the start, more of each early payment goes to interest. As you pay down principal, interest charges decrease and more of each payment reduces your balance.
Can I pay off a loan early to save on interest?
Usually yes. Extra payments reduce your principal faster, which reduces future interest charges. Check your loan agreement for prepayment penalties first. Even small extra monthly payments can save significant interest and shorten your loan term.
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