Loan Summary

Principal Interest Rate Length Amortization Schedule Change Parameters
$15,000 4.25% 5 years ViewPrint Change Parameters
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Payment Summary

Number of Payments Monthly Payment Total Principal Paid Total Interest Paid Total Paid
60 $277.94 $15,000.00 $1,676.60 $16,676.60

Yearly Amortization Schedule

PaymentsYearly TotalPrincipal PaidInterest PaidBalance
Year 1 (1-12)$3,335.32$2,751.00$584.32$12,249.00
Year 2 (13-24)$3,335.32$2,870.22$465.10$9,378.78
Year 3 (25-36)$3,335.32$2,994.61$340.71$6,384.18
Year 4 (37-48)$3,335.32$3,124.39$210.93$3,259.79
Year 5 (49-60)$3,335.32$3,259.79$75.53$0.00

Amortization Schedule Calculator

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

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Amortization Calculator Information

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.