Loan and Amortization Calculator
Principal, rate and term in; the monthly payment and a full payment-by-payment schedule out.
Loan terms
4.0 years
Monthly payment
$592.87
Principal
$25,000.00
Total interest
$3,457.98
Total of payments
$28,457.98
Interest as a share of total payments12.2%
How it works
- 1Enter the loan amount, the annual interest rate, and the term in months.
- 2The monthly payment is calculated first, then the full schedule — every payment split into interest and principal, with the balance remaining after each one.
- 3Download the schedule as a spreadsheet, or copy the summary.
Common questions
- Why does the interest portion shrink over the life of the loan?
- Interest is charged on the balance still owed. Early payments are mostly interest because the balance is largest then; as the balance falls, more of the same fixed payment goes to principal.
- Does the last payment always match the others exactly?
- It can be a cent or two different. The scheduled payment is rounded to the nearest cent each month, and small roundings would otherwise leave the loan a few cents short of, or over, fully repaid — the final payment absorbs that so the balance lands at exactly zero.
- Does this include fees, insurance or taxes?
- No — this is the interest-and-principal math only. Add any fees, escrow or insurance on top of the figures shown.
- What if the interest rate is 0%?
- The payment is simply the amount borrowed divided by the number of months, with nothing charged in interest.
Billing a client rather than repaying a loan?
The Invoice Generator turns line items, tax and a discount into a clean invoice, ready to save as a PDF.
Open the Invoice Generator