Amortization Calculator
Calculate the monthly payment, total interest, and full payoff schedule of an amortized loan such as a mortgage or car loan.
About the Amortization Calculator
The monthly payment uses the standard amortization formula: PMT = P × i / (1 − (1+i)−n), where P is the loan amount, i the monthly rate and n the number of payments. Each payment pays the month's interest first; the remainder reduces the principal, so the interest share shrinks every month.
This calculator is for informational purposes only and is not financial advice.