|Period #||Bigining Balance||Payment Amount||Principal Amount||Interest Amount||Ending Balance (Owed)|
This amortization schedule calculator allows you to create a payment table for a loan with equal loan payments for the life of a loan.
The amortization table shows how each payment is applied to the principal balance and the interest owed.
Payment Amount = (Input Amount x Interest Rate)x(1 + interest rate)^n / (1 + interest rate)-1
Interest = Begining Balance x Interest Rate
Principal = Payment Amount - Interest
Ending Balance = Begining Balance - Principal
Say you are taking out a mortgage for 250000 at 5% interest for 360 payments, made monthly.
Enter these values into the calculator and click "Calculate" to produce an amortized schedule of monthly loan payments.
You can see that the payment amount stays the same over the course of the mortgage.
With each payment the principal owed increases and thes Interest to pay decreases
Input Amount is: The size or value of the loan.
Interest Rate is: The annual stated rate of the loan.
Number of Payments: The total number of payments, initial or remaining, to pay off the given loan amount.
Payment Frequency is: How often is the loan payment due?
Typically loan payments are due monthly,but annually options is provided on the calculator.