About This Calculator
The Amortization Calculator helps you estimate your monthly loan payments and provides a detailed amortization schedule. It follows standard U.S. loan practices, calculating fixed monthly payments based on the loan amount, annual interest rate (APR), and loan term.
How to Use
- Enter your loan amount.
- Provide the annual interest rate (APR) as a percentage.
- Select your loan term in years.
- Click "Calculate" to view your fixed monthly payment and a full amortization schedule.
Frequently Asked Questions
What is an Amortization Schedule?
An amortization schedule breaks down each monthly payment, showing how much goes toward principal and how much toward interest, along with the remaining loan balance.
What loan types does this apply to?
It applies to most fixed-rate loans, including auto loans, personal loans, and mortgages.
Can I see total interest paid?
Yes, the calculator displays total interest separately along with your total repayment amount.
What if I want bi-weekly payments?
This version calculates monthly payments only. For bi-weekly schedules, use a specialized calculator.