Financial Calculators
Amortization Calculator
Calculate and display detailed amortization schedules.
What is the Amortization Calculator & How does it work?
An amortization schedule is a table detailing each periodic payment on an amortizing loan, showing the amount of principal and interest in each payment, as well as the remaining balance. This helps borrowers understand how their payments are allocated over time.The formula for calculating the monthly payment (P) on a fixed-rate mortgage is: P = [r*PV] / [1 - (1 + r)^-n], where r is the monthly interest rate, PV is the present value or principal loan amount, and n is the number of payments.
P = \frac{r*PV}{1 - (1 + r)^{-n}}
P = Monthly Payment, r = Monthly Interest Rate, PV = Principal Loan Amount, n = Number of Payments
Parameters
USD
%
Years
Total Payments
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Total Interest Paid
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Results are for informational purposes only and do not constitute professional advice.