Amortization Calculator
The Amortization Calculator shows the complete month-by-month and yearly breakdown of a fixed-rate loan — how each payment splits between principal and interest and how your balance shrinks over time. Ideal for mortgages, auto loans, and personal loans.
Monthly payment
$1,580
Total interest
$318,861
Total paid
$568,861
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $2,794 | $16,168 | $247,206 |
| 2 | $2,981 | $15,981 | $244,224 |
| 3 | $3,181 | $15,781 | $241,043 |
| 4 | $3,394 | $15,568 | $237,649 |
| 5 | $3,621 | $15,341 | $234,027 |
| 6 | $3,864 | $15,098 | $230,163 |
| 7 | $4,123 | $14,839 | $226,041 |
| 8 | $4,399 | $14,563 | $221,642 |
| 9 | $4,694 | $14,269 | $216,948 |
| 10 | $5,008 | $13,954 | $211,940 |
| 11 | $5,343 | $13,619 | $206,597 |
| 12 | $5,701 | $13,261 | $200,896 |
| 13 | $6,083 | $12,879 | $194,813 |
| 14 | $6,490 | $12,472 | $188,323 |
| 15 | $6,925 | $12,037 | $181,398 |
| 16 | $7,389 | $11,573 | $174,009 |
| 17 | $7,884 | $11,078 | $166,126 |
| 18 | $8,412 | $10,551 | $157,714 |
| 19 | $8,975 | $9,987 | $148,739 |
| 20 | $9,576 | $9,386 | $139,163 |
| 21 | $10,217 | $8,745 | $128,946 |
| 22 | $10,902 | $8,061 | $118,044 |
| 23 | $11,632 | $7,330 | $106,413 |
| 24 | $12,411 | $6,551 | $94,002 |
| 25 | $13,242 | $5,720 | $80,760 |
| 26 | $14,129 | $4,833 | $66,632 |
| 27 | $15,075 | $3,887 | $51,557 |
| 28 | $16,084 | $2,878 | $35,473 |
| 29 | $17,162 | $1,800 | $18,311 |
| 30 | $18,311 | $651 | $0 |
Shows how each payment splits between principal and interest and how your balance falls over time. Assumes a fixed rate and equal monthly payments. Estimates for planning only.
How This Tool Works
Enter the loan amount, interest rate, and term. The tool shows your monthly payment, total interest, and total cost, plus a full schedule you can view by year or drill into month by month.
Formula & Method
Each month, interest = remaining balance × (annual rate ÷ 12), and principal = fixed payment − interest. The balance drops by the principal portion each month, so early payments are mostly interest and later ones are mostly principal.
Example Calculation
A $250,000 loan at 6.5% over 30 years has a payment of about $1,580/month; in year one almost $16,000 of your payments go to interest and only about $2,900 to principal — the schedule shows that shift year by year.
Frequently Asked Questions
Why is so much of my early payment interest?+
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, the interest portion of each payment shrinks and more goes toward principal.
Can I see every month, not just years?+
Yes. Switch the schedule to the Monthly view to see the principal, interest, and balance for each individual payment.
Does this include taxes and insurance?+
No — it shows the loan’s principal and interest only. For a full mortgage payment with taxes and insurance, use our Mortgage Calculator.
Found this useful? Share it
Help someone else out — or link to it from your own site.
Link to this tool
Writing about amortization calculator? Paste this on your site to link here.
<a href="https://everyfix.net/tools/amortization-calculator/">Amortization Calculator</a> by <a href="https://everyfix.net">EveryFix</a>Related Tools
Mortgage Calculator
Estimate your monthly mortgage payment including taxes and insurance.
Use tool →
Loan Payment Calculator
Calculate the monthly payment for any fixed-rate loan.
Use tool →
Auto Loan Calculator
Calculate your monthly car payment including tax, trade-in, and down payment.
Use tool →
Credit Card Payoff Calculator
See how long it will take to pay off a credit card balance.
Use tool →