Amortization Calculator
Calculate loan amortization schedule with principal and interest breakdown by month. View payment schedule, remaining balance, and total interest paid over loan term.
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Loan Details
$
%
years
$
Optional extra payment toward principal
Loan Summary
Monthly Payment
$1,013
Total Payments
360 payments
Total Interest
$164,813
Total Paid
$364,813
Amortization Schedule
Month
Payment
Principal
Interest
Balance
1
$1,013
$263
$750
$199,737
2
$1,013
$264
$749
$199,472
3
$1,013
$265
$748
$199,207
4
$1,013
$266
$747
$198,941
5
$1,013
$267
$746
$198,673
6
$1,013
$268
$745
$198,405
7
$1,013
$269
$744
$198,136
8
$1,013
$270
$743
$197,865
9
$1,013
$271
$742
$197,594
10
$1,013
$272
$741
$197,321
11
$1,013
$273
$740
$197,048
12
$1,013
$274
$739
$196,774
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Understanding Amortization
Amortization is the process of paying off a loan through regular payments. Each payment covers interest and reduces principal, with the ratio shifting over time.
Key Concepts
- Early Payments: Mostly interest, little principal
- Later Payments: Mostly principal, little interest
- Extra Payments: Go directly to principal, save interest
Frequently Asked Questions
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