Calculate your monthly payments and see the full amortization schedule for any loan.
| Year | Interest Paid | Principal Paid | Remaining Balance |
|---|
*Showing yearly summaries.
It's a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off.
Because interest is calculated on the remaining balance. As the balance decreases over time, the interest portion of your payment shrinks, and the principal portion grows.
Yes! Paying extra directly reduces your principal balance, which in turn reduces the total interest you'll pay and shortens the life of the loan.
No, this calculator only computes the principal and interest (P&I). For mortgages, you should add your estimated property taxes and insurance to get your true monthly cost.