An amortization schedule shows every payment on a fixed-rate loan split into interest and principal, with the balance left after each one. Enter the amount, the annual rate and the term to get the monthly payment and the full table, add an extra monthly payment to see how much interest it saves, and download the schedule as a CSV that opens directly in Excel or Google Sheets. The numbers are calculated in your browser and nothing is sent anywhere.
Fixed-rate installment loans use the level-payment (annuity) formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the annual rate divided by 12, and n is the number of monthly payments. This is the same method the Consumer Financial Protection Bureau describes for amortizing loans, where each payment covers that month's interest first and the rest reduces the balance.
Each month, interest = remaining balance × r, rounded to the cent. Principal = payment − interest. Because the balance falls every month, the interest share shrinks and the principal share grows, even though the payment stays the same. The final payment is adjusted by a few cents so the balance ends at exactly $0.00.
Borrow $25,000 at 7% APR for 5 years (60 payments). The monthly rate is 0.07 ÷ 12 ≈ 0.5833%, so the payment is $495.03. In month 1, interest is $25,000 × 0.005833 = $145.83 and principal is $495.03 − $145.83 = $349.20, leaving $24,650.80. Over the first year you pay $1,612.91 in interest; over the whole loan, $4,701.82, for a total of $29,701.82.
Add $100 a month in extra principal and the loan is paid off in 49 payments instead of 60 — 11 months sooner — and total interest falls by $939.02. Those are the calculator's default inputs, so you can check every figure above in the table.
Business owners use a schedule to split loan payments correctly in the books: only the interest part is an expense; the principal part reduces a liability. Whether that interest is tax-deductible depends on how the money was used and on your tax situation, so check with your accountant.
Before making extra payments, ask the lender whether the loan has a prepayment penalty and how extra money is applied. Some lenders apply it to the next scheduled payment rather than the principal unless you say otherwise.
This tool assumes a fixed rate, monthly payments and interest calculated monthly on the balance. Adjustable-rate loans, interest-only periods, daily-interest loans and fees included in the APR will give different real-world numbers; your lender's statement is the final word.
Payment = P × r ÷ (1 − (1 + r)^−n), with P the loan amount, r the annual rate ÷ 12 and n the number of months. $25,000 at 7% for 60 months is $495.03 a month.
Interest is charged on the remaining balance, which is highest at the start. As the balance falls, less of each payment goes to interest and more to principal.
It depends on the rate and how early you start. On a $25,000, 7%, 5-year loan, $100 extra a month saves $939.02 of interest and ends the loan 11 months early. Enter your own loan to see the figure.
Yes. The download is a CSV file with one row per payment and totals at the bottom; Excel, Google Sheets and Numbers all open it directly.
It gives the principal-and-interest schedule for any fixed-rate loan, including a mortgage. It does not include property tax, insurance or PMI that are often added to a mortgage payment.