Loan Amortization Calculator
Estimate fixed monthly principal and interest payments and inspect the full repayment schedule.
Your inputs
Use consistent units and periods. Defaults are examples.
Your result
Check the assumptions below before relying on a result.
Formula and method
For monthly rate r = annual rate ÷ 1200 and n payments: payment = principal × r ÷ (1 − (1+r)^−n). At zero interest, payment = principal ÷ n. Each month interest = opening balance × r; principal paid = payment − interest.
Worked example
A 12,000 loan at 0% over 12 monthly payments needs 1,000 per month. At 6% over 12 months, the same principal needs approximately 1,032.80 per month.
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