Is this the same as a loan calculator?

It uses the same fixed-payment math, but the focus is the amortization schedule: payment-by-payment principal, interest, and remaining balance.

Why is interest higher at the beginning?

Interest is charged on the remaining balance. Early in the term the balance is larger, so more of the fixed payment goes to interest.

Can the lender schedule differ?

Yes. Exact payment dates, day-count rules, fees, rounding, and contract terms can change the final schedule.

Loan Amortization Calculator

Build a fixed monthly payment amortization schedule with principal, interest, remaining balance, total payments, and total interest.

Loan amount ($)

APR (%/year)

Term (months)

What this amortization calculator shows

English search intent for this page is a loan amortization calculator, not an annuity-investment tool. The page estimates a fixed monthly payment and shows how each payment splits between principal and interest over time.

Monthly payment for a fixed-rate installment loan.
Principal and interest in every payment.
Remaining balance after each payment.
Total payments and total interest over the term.

Estimate only

The schedule excludes lender fees, insurance, payment dates, variable rates, prepayment penalties, and official APR disclosures.

Amortization formula

M = P \cdot \frac{i ( 1 + i ) ^{n}}{( 1 + i ) ^{n} - 1}

M is monthly payment, P is loan amount, i is monthly APR, and n is the number of monthly payments.

I n t er es t_{m} = B a l an c e_{m - 1} \cdot i

Monthly interest is calculated on the balance before that payment.

P r in c i p a l_{m} = M - I n t er es t_{m}

The principal share grows as the balance gets smaller.

How to read the schedule

Column	Meaning
Payment	The fixed monthly amount in this simplified model.
Principal	The part of the payment that reduces the balance.
Interest	The finance cost for that month.
Balance	The loan amount remaining after the payment.

Frequently Asked Questions

Sources and References

Calculations are based on the listed reference sources. Links open in a new tab.

Updated: June 2, 2026

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