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

$60,000 | 6.50% | 30 years | View • Print | Change Parameters |

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

360 | $379.24 | $60,000.00 | $76,526.69 | $136,526.69 |

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

Year 1 (1-12) | $4,550.89 | $670.64 | $3,880.25 | $59,329.36 |

Year 2 (13-24) | $4,550.89 | $715.55 | $3,835.34 | $58,613.82 |

Year 3 (25-36) | $4,550.89 | $763.47 | $3,787.42 | $57,850.35 |

Year 4 (37-48) | $4,550.89 | $814.60 | $3,736.29 | $57,035.74 |

Year 5 (49-60) | $4,550.89 | $869.16 | $3,681.73 | $56,166.59 |

Year 6 (61-72) | $4,550.89 | $927.37 | $3,623.52 | $55,239.22 |

Year 7 (73-84) | $4,550.89 | $989.47 | $3,561.42 | $54,249.75 |

Year 8 (85-96) | $4,550.89 | $1,055.74 | $3,495.15 | $53,194.01 |

Year 9 (97-108) | $4,550.89 | $1,126.45 | $3,424.44 | $52,067.56 |

Year 10 (109-120) | $4,550.89 | $1,201.89 | $3,349.00 | $50,865.68 |

Year 11 (121-132) | $4,550.89 | $1,282.38 | $3,268.51 | $49,583.30 |

Year 12 (133-144) | $4,550.89 | $1,368.26 | $3,182.63 | $48,215.04 |

Year 13 (145-156) | $4,550.89 | $1,459.90 | $3,090.99 | $46,755.14 |

Year 14 (157-168) | $4,550.89 | $1,557.67 | $2,993.22 | $45,197.47 |

Year 15 (169-180) | $4,550.89 | $1,661.99 | $2,888.90 | $43,535.48 |

Year 16 (181-192) | $4,550.89 | $1,773.29 | $2,777.60 | $41,762.19 |

Year 17 (193-204) | $4,550.89 | $1,892.06 | $2,658.83 | $39,870.14 |

Year 18 (205-216) | $4,550.89 | $2,018.77 | $2,532.12 | $37,851.37 |

Year 19 (217-228) | $4,550.89 | $2,153.97 | $2,396.92 | $35,697.40 |

Year 20 (229-240) | $4,550.89 | $2,298.23 | $2,252.66 | $33,399.17 |

Year 21 (241-252) | $4,550.89 | $2,452.14 | $2,098.75 | $30,947.03 |

Year 22 (253-264) | $4,550.89 | $2,616.37 | $1,934.52 | $28,330.66 |

Year 23 (265-276) | $4,550.89 | $2,791.59 | $1,759.30 | $25,539.07 |

Year 24 (277-288) | $4,550.89 | $2,978.55 | $1,572.34 | $22,560.52 |

Year 25 (289-300) | $4,550.89 | $3,178.03 | $1,372.86 | $19,382.50 |

Year 26 (301-312) | $4,550.89 | $3,390.86 | $1,160.03 | $15,991.63 |

Year 27 (313-324) | $4,550.89 | $3,617.96 | $932.93 | $12,373.68 |

Year 28 (325-336) | $4,550.89 | $3,860.26 | $690.63 | $8,513.42 |

Year 29 (337-348) | $4,550.89 | $4,118.79 | $432.10 | $4,394.63 |

Year 30 (349-360) | $4,550.89 | $4,394.63 | $156.26 | $0.00 |

$136,526.69 | $60,000.00 | $76,526.69 |

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.