Principal | Interest Rate | Length | Amortization Schedule | Change Parameters |
---|---|---|---|---|

$7,000 | 6.25% | 30 years | View • Print | Change Parameters |

Number of Payments | Monthly Payment | Total Principal Paid | Total Interest Paid | Total Paid |
---|---|---|---|---|

360 | $43.10 | $7,000.00 | $8,516.07 | $15,516.07 |

Payments | Yearly Total | Principal Paid | Interest Paid | Balance |
---|---|---|---|---|

Year 1 (1-12) | $517.20 | $82.03 | $435.18 | $6,917.97 |

Year 2 (13-24) | $517.20 | $87.30 | $429.90 | $6,830.67 |

Year 3 (25-36) | $517.20 | $92.92 | $424.29 | $6,737.76 |

Year 4 (37-48) | $517.20 | $98.89 | $418.31 | $6,638.86 |

Year 5 (49-60) | $517.20 | $105.25 | $411.95 | $6,533.61 |

Year 6 (61-72) | $517.20 | $112.02 | $405.18 | $6,421.58 |

Year 7 (73-84) | $517.20 | $119.23 | $397.97 | $6,302.35 |

Year 8 (85-96) | $517.20 | $126.90 | $390.30 | $6,175.45 |

Year 9 (97-108) | $517.20 | $135.06 | $382.14 | $6,040.39 |

Year 10 (109-120) | $517.20 | $143.75 | $373.45 | $5,896.64 |

Year 11 (121-132) | $517.20 | $153.00 | $364.21 | $5,743.64 |

Year 12 (133-144) | $517.20 | $162.84 | $354.37 | $5,580.81 |

Year 13 (145-156) | $517.20 | $173.31 | $343.89 | $5,407.50 |

Year 14 (157-168) | $517.20 | $184.46 | $332.74 | $5,223.04 |

Year 15 (169-180) | $517.20 | $196.32 | $320.88 | $5,026.72 |

Year 16 (181-192) | $517.20 | $208.95 | $308.25 | $4,817.76 |

Year 17 (193-204) | $517.20 | $222.39 | $294.81 | $4,595.37 |

Year 18 (205-216) | $517.20 | $236.70 | $280.51 | $4,358.68 |

Year 19 (217-228) | $517.20 | $251.92 | $265.28 | $4,106.76 |

Year 20 (229-240) | $517.20 | $268.12 | $249.08 | $3,838.63 |

Year 21 (241-252) | $517.20 | $285.37 | $231.83 | $3,553.26 |

Year 22 (253-264) | $517.20 | $303.73 | $213.48 | $3,249.54 |

Year 23 (265-276) | $517.20 | $323.26 | $193.94 | $2,926.27 |

Year 24 (277-288) | $517.20 | $344.06 | $173.15 | $2,582.22 |

Year 25 (289-300) | $517.20 | $366.19 | $151.02 | $2,216.03 |

Year 26 (301-312) | $517.20 | $389.74 | $127.46 | $1,826.29 |

Year 27 (313-324) | $517.20 | $414.81 | $102.39 | $1,411.49 |

Year 28 (325-336) | $517.20 | $441.49 | $75.71 | $970.00 |

Year 29 (337-348) | $517.20 | $469.89 | $47.32 | $500.11 |

Year 30 (349-360) | $517.20 | $500.11 | $17.09 | $0.00 |

$15,516.07 | $7,000.00 | $8,516.07 |

Enter your loan information to create an amortization schedule showing payments of principal and interest.

Here are some helpful tips to understand how this calculator works.

- This calculator determines the monthly payment of a loan or mortgage based on an interest rate and length. It also calculates the total interest and total amount paid over the entire term of the loan.
- Subtract your down payment from the purchase price to obtain the principal amount for the loan.
- It assumes a fixed interest rate throughout the entire loan. It does not handle variable, adjustable (ARM) or ballon rates.
- An amortization schedule is also generated showing how the balance or principal is paid off by the end of the term. A portion of each monthly payment goes toward interest with the rest being used to reduce the remaining balance.
- This type of calculation can be used for any type of asset, including home mortgages, car loans, credit cards, student loans and many more.