Amortization Schedule
A full year-by-year schedule for any fixed-rate loan: payment, principal vs interest split, remaining balance, and the effect of paying extra. Informational only, not financial advice.
| Year | Principal paid | Interest paid | Balance remaining |
|---|---|---|---|
| 1 | $3,129.63 | $18,107.85 | $276,870.37 |
| 2 | $3,339.23 | $17,898.26 | $273,531.14 |
| 3 | $3,562.86 | $17,674.62 | $269,968.28 |
| 4 | $3,801.47 | $17,436.01 | $266,166.80 |
| 5 | $4,056.07 | $17,181.42 | $262,110.74 |
| 6 | $4,327.71 | $16,909.78 | $257,783.03 |
| 7 | $4,617.54 | $16,619.94 | $253,165.49 |
| 8 | $4,926.79 | $16,310.70 | $248,238.70 |
| 9 | $5,256.74 | $15,980.74 | $242,981.95 |
| 10 | $5,608.80 | $15,628.69 | $237,373.15 |
| 11 | $5,984.43 | $15,253.06 | $231,388.72 |
| 12 | $6,385.22 | $14,852.27 | $225,003.51 |
| 13 | $6,812.85 | $14,424.64 | $218,190.66 |
| 14 | $7,269.12 | $13,968.37 | $210,921.54 |
| 15 | $7,755.94 | $13,481.54 | $203,165.60 |
| 16 | $8,275.37 | $12,962.11 | $194,890.22 |
| 17 | $8,829.59 | $12,407.89 | $186,060.63 |
| 18 | $9,420.92 | $11,816.56 | $176,639.71 |
| 19 | $10,051.86 | $11,185.62 | $166,587.84 |
| 20 | $10,725.05 | $10,512.43 | $155,862.79 |
| 21 | $11,443.33 | $9,794.16 | $144,419.46 |
| 22 | $12,209.71 | $9,027.77 | $132,209.75 |
| 23 | $13,027.42 | $8,210.07 | $119,182.33 |
| 24 | $13,899.89 | $7,337.60 | $105,282.44 |
| 25 | $14,830.79 | $6,406.70 | $90,451.65 |
| 26 | $15,824.04 | $5,413.45 | $74,627.62 |
| 27 | $16,883.80 | $4,353.69 | $57,743.82 |
| 28 | $18,014.54 | $3,222.95 | $39,729.28 |
| 29 | $19,221.01 | $2,016.48 | $20,508.27 |
| 30 | $20,508.27 | $729.21 | $0.00 |
How to use this tool
- Enter the loan amount, interest rate, and term — the fixed monthly payment is calculated for you.
- Optionally add an extra monthly payment.
- Read the year-by-year table: how much of each year's payments went to interest vs principal, and the balance remaining.
How it works
Each month, interest accrues on the remaining balance (balance × rate ÷ 12); the rest of your payment reduces principal. Early on, most of the payment is interest — on a 30-year loan it typically takes well past the halfway point before the majority of your payment goes to principal. The schedule makes that visible.
Extra payments go entirely to principal, which is why they punch above their weight: every dollar of early principal removes decades of interest on that dollar. Assumptions: fixed rate, on-time payments. Informational only — not financial advice.
Frequently asked questions
Why is so much of my early payment interest?
Interest is charged on the outstanding balance, which is largest at the start. As the balance falls, the interest portion shrinks and the principal portion grows — the schedule shows the crossover year for your loan.
Does this work for any loan?
Any fixed-rate, fully amortizing loan: mortgages, auto loans, personal loans, student loans with fixed rates. It doesn't model variable rates, interest-only periods, or fees.
How do extra payments change the schedule?
They shorten it from the end. The payment stays the same, but the balance falls faster, so the loan finishes early and the interest that would have accrued in those final years never happens.