Calculate loan payments, interest, and amortization
âšī¸ About Loan Calculator
Calculate monthly loan payments using the amortization formula PMT = P Ã [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly rate, and n is total payments. See total interest paid, full amortization schedule, and the split between principal and interest for each payment period.
â Frequently Asked Questions
The standard loan amortization formula computes a fixed monthly payment that pays off both principal and interest over the loan term: PMT = P Ã [r(1+r)^n] / [(1+r)^n - 1].
An amortization schedule shows each monthly payment broken down into principal and interest portions, plus the remaining balance, so you can see exactly how your loan is paid off over time.