How it works
Loan payment = P × r ÷ [1 − (1 + r)^−n], where r is the monthly rate.
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FREE INTERACTIVE CALCULATOR
Amortization Calculator
Generate a monthly loan amortization schedule with principal, interest, balance and CSV export.
YOUR INPUTSLIVE RESULTS
CALCULATED RESULT$386.66 per month
Total interest: $3,199.36 · Total loan payments: $23,199.36 · 60 months
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $386.66 | $286.66 | $100.00 | $19,713.34 |
| 2 | $386.66 | $288.09 | $98.57 | $19,425.25 |
| 3 | $386.66 | $289.53 | $97.13 | $19,135.72 |
| 4 | $386.66 | $290.98 | $95.68 | $18,844.75 |
| 5 | $386.66 | $292.43 | $94.22 | $18,552.32 |
| 6 | $386.66 | $293.89 | $92.76 | $18,258.42 |
| 7 | $386.66 | $295.36 | $91.29 | $17,963.06 |
| 8 | $386.66 | $296.84 | $89.82 | $17,666.22 |
| 9 | $386.66 | $298.32 | $88.33 | $17,367.89 |
| 10 | $386.66 | $299.82 | $86.84 | $17,068.07 |
| 11 | $386.66 | $301.32 | $85.34 | $16,766.76 |
| 12 | $386.66 | $302.82 | $83.83 | $16,463.94 |
Monthly schedule calculated with unrounded internal amounts; display and CSV values are rounded to cents.
Worked example
For a $20,000 loan at 6% interest over 5 years, monthly principal and interest is about $386.66.
The default values in the tool are illustrative. Change them to match your situation.
Assumptions and limitations
Changing the rate or term changes both monthly payment and lifetime interest. Fees are excluded.
Results are educational estimates, not professional financial advice or a lender quote.
Frequently asked questions
How does this amortization calculator work?
Loan payment = P × r ÷ [1 − (1 + r)^−n], where r is the monthly rate.
What is an example?
For a $20,000 loan at 6% interest over 5 years, monthly principal and interest is about $386.66.
What assumptions or limitations apply?
Changing the rate or term changes both monthly payment and lifetime interest. Fees are excluded.
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Content created October 23, 2026. Methods and editorial standards.