Paritian

Finance

Amortisation Schedule Calculator

The payment, and a year-by-year table of how much goes to interest, how much to capital, and what is left owing.

Results

The payment 1073.64
Year · paid · interest · capital · balance left 1 12883.72 9932.99 2950.73 197049.27 2 12883.72 9782.02 3101.70 193947.57 3 12883.72 9623.33 3260.38 190687.19 4 12883.72 9456.53 3427.19 187260 5 12883.72 9281.19 3602.53 183657.46 6 12883.72 9096.87 3786.85 179870.62 7 12883.72 8903.13 3980.59 175890.03 8 12883.72 8699.48 4184.24 171705.79 9 12883.72 8485.40 4398.32 167307.47 10 12883.72 8260.38 4623.34 162684.13 11 12883.72 8023.84 4859.88 157824.25 12 12883.72 7775.20 5108.52 152715.73 13 12883.72 7513.84 5369.88 147345.84 14 12883.72 7239.10 5644.62 141701.22 15 12883.72 6950.31 5933.41 135767.82 16 12883.72 6646.75 6236.97 129530.85 17 12883.72 6327.65 6556.07 122974.78 18 12883.72 5992.23 6891.49 116083.29 19 12883.72 5639.65 7244.07 108839.22 20 12883.72 5269.03 7614.69 101224.54 21 12883.72 4879.45 8004.27 93220.26 22 12883.72 4469.93 8413.78 84806.48 23 12883.72 4039.47 8844.25 75962.23 24 12883.72 3586.98 9296.74 66665.49 25 12883.72 3111.34 9772.38 56893.11 26 12883.72 2611.37 10272.35 46620.76 27 12883.72 2085.82 10797.90 35822.86 28 12883.72 1533.37 11350.34 24472.52 29 12883.72 952.67 11931.05 12541.47 30 12883.72 342.25 12541.47 0
Total interest 186,511.57
Total paid 386,511.57
Of it that is interest 48.26 %
Interest in the very first payment 833.33
What you actually pay each period 1073.64
Payments actually made 360
Payments originally planned 360
Payments avoided 0
Years it actually takes 30.00
Interest saved 0.00
Rate per period 0.416667 %

What this tool does

A loan payment is one number, but it is two things at once: rent on the money you still owe, and a bite out of the debt itself. At the beginning it is almost all rent. This page builds the whole schedule so you can see the balance fall and the split shift year by year — and, if you add an extra amount, exactly how many payments it removes from the end and how much interest that avoids. The final row of the table is the one that matters: the balance reaching zero.

Formula

PMT = C × i ÷ (1 − (1+i)^−n) · period by period: interest = balance × i, principal = PMT − interest

Variables

SymbolMeaningUnit
principalLoan amount—
rateAnnual interest rate%
yearsYears—
freqPayments per year—
extraExtra paid each period—
PMThe payment—
TBYear · paid · interest · capital · balance left—
TITotal interest—
TPTotal paid—
SHOf it that is interest%
FIInterest in the very first payment—
PWWhat you actually pay each period—
PUPayments actually made—
PPPayments originally planned—
PSPayments avoided—
YUYears it actually takes—
ISInterest saved—
PRRate per period%

Worked example

  • Loan amount200,000
  • Annual interest rate5 %
  • Years30
  • Payments per year12
  • Extra paid each period0
  • The payment1073.64
  • Year · paid · interest · capital · balance left 1 12883.72 9932.99 2950.73 197049.27 2 12883.72 9782.02 3101.70 193947.57 3 12883.72 9623.33 3260.38 190687.19 4 12883.72 9456.53 3427.19 187260 5 12883.72 9281.19 3602.53 183657.46 6 12883.72 9096.87 3786.85 179870.62 7 12883.72 8903.13 3980.59 175890.03 8 12883.72 8699.48 4184.24 171705.79 9 12883.72 8485.40 4398.32 167307.47 10 12883.72 8260.38 4623.34 162684.13 11 12883.72 8023.84 4859.88 157824.25 12 12883.72 7775.20 5108.52 152715.73 13 12883.72 7513.84 5369.88 147345.84 14 12883.72 7239.10 5644.62 141701.22 15 12883.72 6950.31 5933.41 135767.82 16 12883.72 6646.75 6236.97 129530.85 17 12883.72 6327.65 6556.07 122974.78 18 12883.72 5992.23 6891.49 116083.29 19 12883.72 5639.65 7244.07 108839.22 20 12883.72 5269.03 7614.69 101224.54 21 12883.72 4879.45 8004.27 93220.26 22 12883.72 4469.93 8413.78 84806.48 23 12883.72 4039.47 8844.25 75962.23 24 12883.72 3586.98 9296.74 66665.49 25 12883.72 3111.34 9772.38 56893.11 26 12883.72 2611.37 10272.35 46620.76 27 12883.72 2085.82 10797.90 35822.86 28 12883.72 1533.37 11350.34 24472.52 29 12883.72 952.67 11931.05 12541.47 30 12883.72 342.25 12541.47 0
  • Total interest186,511.57
  • Total paid386,511.57
  • Of it that is interest48.26 %
  • Interest in the very first payment833.33
  • What you actually pay each period1073.64
  • Payments actually made360
  • Payments originally planned360
  • Payments avoided0
  • Years it actually takes30.00
  • Interest saved0.00
  • Rate per period0.416667 %

Limitations

  • This is an informational calculator, not personalised financial advice. Rates, fees, taxes and contract conditions vary between institutions and countries.
  • The tool works with whatever currency you use for the inputs; it does not convert between currencies.
  • The calculation runs at full precision and only the display is rounded. If you copy an intermediate value and retype it, small differences can appear.

Frequently asked questions

Why is almost all of my early payment interest?

Because interest is charged on what you still owe, and at the start you still owe everything. On a 200,000 loan at six per cent, the first month's interest alone is 1,000 — out of a payment of 1,199. Only 199 goes to the debt. The payment never changes, but as the balance falls the interest part shrinks and the capital part grows, slowly at first and then quickly. On a thirty-year loan the halfway point in capital is not reached until about year twenty. The table above shows exactly where the crossover happens for your loan.

How much does a small extra payment really do?

More than its size suggests, because every euro of extra goes entirely to capital, and capital removed early avoids all the interest it would have accrued for the rest of the term. Two hundred a month on a hundred-thousand loan at four per cent over ten years ends it almost two years early and saves over four thousand in interest. The saving is largest on long loans and high rates, and smallest near the end, when there is little interest left to avoid. Check for early-repayment fees before relying on it.