Loan Calculator
Calculate monthly repayments and view the full amortization schedule for any loan.
Monthly payment
Total interest
Total cost
View amortization schedule
| Month | Payment | Principal | Interest | Balance |
|---|
How loan amortization works
Each monthly payment covers the interest accrued that month plus a portion of the principal. Early payments are mostly interest; later payments are mostly principal. The formula for monthly payment is: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ−1], where P is the principal, r is the monthly interest rate, and n is the number of months.