Finance Tools
Amortization Calculator
Generate a full amortization schedule with monthly principal and interest breakdown.
Generate a full amortization schedule with monthly principal and interest breakdown. Optionally add an extra monthly payment to see how much faster you can pay off your loan.
How to use this amortization calculator
- Enter your total loan amount (principal).
- Enter the annual interest rate for your loan.
- Enter the loan term in years.
- Optionally, enter an extra monthly payment to see how much faster you can pay off the loan.
- Click Calculate to generate a monthly amortization schedule with principal, interest, and remaining balance.
Example
For example, suppose you have a $300,000 mortgage at 6% interest over 30 years, and you add a $200 extra monthly payment. This calculator will show you:
- Your standard monthly payment based on the principal, rate, and term.
- How much of each payment goes to interest vs principal over time.
- The total interest paid over the life of the loan.
- How many months earlier you can pay off the loan with your extra monthly payment.
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