Question 1

How do I use the Amortization Schedule Calculator?

Accepted Answer

Enter the loan amount, the annual interest rate as a percentage, and the loan term in years. Click calculate to see your monthly payment, total interest, and the full amortization schedule. Use "See full breakdown" to view the month-by-month table.

Question 2

Why do early payments go mostly to interest?

Accepted Answer

Interest is calculated on the remaining balance. At the start the balance is highest, so the interest portion is largest. As you pay down principal, the interest share shrinks and more of each payment goes to principal. This is standard for all fixed-rate amortizing loans.

Question 3

Is this the same as the Loan Payment Calculator?

Accepted Answer

Both use the same formula. The Loan Payment Calculator lets you choose payment frequency (monthly, biweekly, etc.). The Amortization Schedule Calculator is fixed to monthly payments and focuses on showing the full schedule. For mortgages and most personal loans, monthly is standard.