Amortization Calculator
See the full year-by-year principal and interest breakdown for any fixed-rate loan.
Try an example
$2,023
Remaining balance by year
| Year | Principal paid | Interest paid | End balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
About this calculator
How This Amortization Calculator Works
Enter a loan amount, interest rate, and term, and the calculator returns your monthly payment plus a full year-by-year breakdown showing how much of each year's payments goes to principal versus interest, and what the remaining balance is.
Why the Principal/Interest Split Changes Over Time
Every payment on a fixed-rate loan is the same size, but the mix underneath it isn't. Early on, most of each payment covers interest on the large remaining balance; as the balance shrinks, more of each payment goes toward principal instead. This is why paying extra toward principal early in a loan saves more total interest than the same extra payment made later — it removes balance that would otherwise accrue interest for many more years.
How to Read the Schedule
- Principal paid — how much of that year's payments reduced the loan balance
- Interest paid — how much of that year's payments was the cost of borrowing, not debt reduction
- End balance — what's left owed after that year's payments
For just the monthly payment and totals without the full yearly breakdown, the Loan Calculator or Mortgage Calculator covers that more directly.
Worked example
A $320,000 loan at 6.5% over 30 years comes out to $2,023/month — the same math behind the Mortgage Calculator's default example. Early payments are mostly interest; by the later years, most of each payment goes to principal instead.
Frequently asked questions
Why does the interest portion shrink over time?
Interest is calculated on the remaining balance each month. As the balance shrinks, so does the interest charged, leaving a growing share of each fixed payment to pay down principal — this is normal for any fixed-rate amortizing loan.
Does this apply to any loan, not just mortgages?
Yes — any fixed-rate, fixed-term loan amortizes the same way, including auto loans, personal loans, and student loans.
What happens if I make an extra principal payment?
It reduces the balance immediately, which lowers the interest charged on every future payment — this table doesn't account for extra payments, so the real payoff would be faster than shown.