Compute the monthly payment for any loan and see the full amortization schedule — or enter a payment to find how much you can borrow.
The loan amortization calculator answers the two loan questions that matter when you are comparing offers: what is the monthly payment, and how much of each payment goes to interest versus principal? Enter a loan amount, annual interest rate, and term, and the tool computes the fixed monthly payment with the standard annuity formula and lays out the full amortization schedule — every period with its payment, principal portion, interest portion, and remaining balance, summed into total interest and total paid over the life of the loan. Leave the loan amount blank and enter a monthly payment instead, and the calculator works backwards to find the amount that payment can support — a quick affordability check before you negotiate. Decimal arithmetic keeps money calculations exact, the final period absorbs any rounding remainder so the balance lands exactly at zero, and a zero-rate loan falls back to a straight-line schedule. Everything runs locally in your browser; no loan data is sent anywhere.
Processed locally in your browser
Monthly payment
—
Loan amount
—
Total interest
—
Total paid
—
Fixed rate and fixed payments assumed. The final period absorbs the rounding remainder so the balance ends at zero. When a monthly payment is entered, the loan amount is computed from it.
| # | Payment | Principal | Interest | Balance |
|---|
With principal 25000, rate 6, and term 5, the monthly payment is 483.32. Over 60 payments the schedule shows total interest of about 3,999 — the 13th payment splits into roughly 250 of interest and 233 of principal.
| Input | Value |
|---|---|
| principal | 25000 |
| annualRate | 6 |
| termYears | 5 |
| Result | $483.32/month · $3,999 total interest |
Leave the loan amount blank, enter a payment of 1000 with a rate of 6% and a 10-year term, and the calculator returns a loan amount of about 90,073 — the present value of 120 payments of 1,000.
| Input | Value |
|---|---|
| annualRate | 6 |
| termYears | 10 |
| monthlyPayment | 1000 |
| Result | ≈ $90,073 loan amount |
payment = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
| Symbol | Meaning |
|---|---|
P | loan amount (principal) |
r | monthly interest rate = annual rate / 1200 |
n | number of monthly payments = years × 12 |
payment = P / n
| Symbol | Meaning |
|---|---|
P | loan amount |
n | number of monthly payments |
principal = payment × (1 − (1 + r)⁻ⁿ) / r
| Symbol | Meaning |
|---|---|
payment | the affordable monthly payment |
r | monthly interest rate |
n | number of monthly payments |
Last reviewed August 11, 2026 · Version 1.0.0 · Toolivaro does not guarantee external content.
Interest is charged on the outstanding balance, which is highest at the start, so early payments are mostly interest. As the balance falls, the interest portion shrinks and the principal portion grows — the schedule shows exactly how the split evolves each month.
The payment takes precedence: the calculator treats it as the affordability question and derives the loan amount that the payment supports. If you want to check a specific amount against a target payment, leave the loan amount blank and compare the derived amount.
No. It covers the interest and principal of the loan itself. Closing costs, taxes, and insurance change the true cost of borrowing and are not modeled — see the limitations for what the schedule represents.
Part of Startup and freelance finance calculators
Found a mistake or have a correction? Report it — we review every correction.
Was this helpful?
Reviewed by the Toolivaro editorial team per our methodology Methodology · Editorial policy