Amortization Calculator
Calculate loan payment schedules and see the impact of extra payments
๐งฎ Loan Details
๐ Calculation Results
Loan Summary
๐ Amortization Schedule
| Year | Interest | Principal | Ending Balance |
|---|
๐ Understanding Amortization
What is Amortization?
Amortization is the systematic repayment of a loan over time through regular payments that cover both principal and interest.
Extra Payments
Making extra payments reduces the principal balance faster, saving significant interest over the loan term.
Amortization Schedule
A detailed breakdown showing how each payment is split between principal and interest over time.
Interest vs Principal
Early payments contain more interest, while later payments apply more toward the principal balance.
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