Method
For a fixed-rate amortized loan, payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the rate per payment period and n is the number of payments.
Example
A $200,000 fixed loan at 6% for 30 years has a monthly principal-and-interest payment of about $1,199.10.
Limits
Check inputs and units. Important academic, financial or professional decisions should be confirmed against an appropriate source.
Common questions
What does an amortization schedule show?
It separates each fixed payment into principal and interest and shows the remaining loan balance.
Can I calculate monthly, weekly or annual loan payments?
Yes. Choose monthly, biweekly, weekly or annual payments; the calculator adjusts the periodic interest rate and payment count.
Does this calculator include APR fees?
No. It uses the entered nominal annual interest rate and does not add lender fees, insurance, taxes or a variable APR.
What does the loan amortization calculator calculate?
Calculate an amortized payment, total interest and a loan amortization schedule.
Does this loan amortization calculator show its method?
Yes. The result includes the central formula or working needed to check the answer.