How is the monthly payment calculated?

The calculator uses the standard PMT formula — principal × (monthly rate × (1 + monthly rate)^n) / ((1 + monthly rate)^n - 1) — where n is the total number of payments. For 0% interest, the payment is simply principal ÷ months.

What is an amortization schedule?

An amortization schedule shows how each monthly payment is split between principal and interest. Early payments are mostly interest; later payments are mostly principal.

Loan / Mortgage Calculator

Calculate monthly payments, total interest, and total cost for any loan or mortgage. View a full amortization schedule with a principal vs. interest chart.

Your data never leaves your device

Loan Amount ($)

Annual Rate (%)

Term (Years)

Monthly Payment

$1,199.10

Total Interest

$231,676.00

Total Cost

$431,676.00

Principal vs. Interest Over Time

Loan Amount ($)Interest

Amortization Schedule

Month	Payment	Principal	Interest	Balance
1	$1,199.10	$199.10	$1,000.00	$199,800.90
2	$1,199.10	$200.10	$999.00	$199,600.80
3	$1,199.10	$201.10	$998.00	$199,399.70
4	$1,199.10	$202.10	$997.00	$199,197.60
5	$1,199.10	$203.11	$995.99	$198,994.49
6	$1,199.10	$204.13	$994.97	$198,790.36
7	$1,199.10	$205.15	$993.95	$198,585.21
8	$1,199.10	$206.17	$992.93	$198,379.04
9	$1,199.10	$207.20	$991.90	$198,171.84
10	$1,199.10	$208.24	$990.86	$197,963.60
11	$1,199.10	$209.28	$989.82	$197,754.32
12	$1,199.10	$210.33	$988.77	$197,543.99

Frequently Asked Questions

How is the monthly payment calculated?

The calculator uses the standard PMT formula — principal × (monthly rate × (1 + monthly rate)^n) / ((1 + monthly rate)^n - 1) — where n is the total number of payments. For 0% interest, the payment is simply principal ÷ months.
What is an amortization schedule?

An amortization schedule shows how each monthly payment is split between principal and interest. Early payments are mostly interest; later payments are mostly principal.