Amortization Schedule Generator
An amortization schedule breaks every loan payment into the portion that reduces the balance (principal) and the portion that is interest. Toolverge computes the standard level monthly payment, then walks it month by month to a zero balance. Because interest is charged on whatever balance remains, and that balance is largest at the very start of the loan, the interest portion of your payment shrinks and the principal portion grows every single month — the schedule makes that shift visible instead of leaving it as an abstract property of the formula.
Educational estimate only. Results are not medical, legal, or financial advice. Confirm important decisions with a qualified professional.
How it works
- Enter the loan amount, annual interest rate, and term in months.
- Read the monthly payment and total interest above the fold.
- Open the full month-by-month schedule for the principal/interest split and running balance.
Formula M = P·r(1+r)^n / ((1+r)^n − 1); each month: interest = balance × r, principal = M − interest
Frequently asked questions
How is this different from a loan calculator?
A loan calculator gives you one number (the payment). This shows every month’s split between principal and interest, and the balance after each payment.
Why is more of my early payments interest?
Interest is charged on the remaining balance, which is highest at the start, so early payments are interest-heavy even though the payment amount stays level.
Does this work for any loan type?
Yes — mortgages, auto loans, and personal loans all use the same level-payment amortization math.
What if my rate is 0%?
The schedule splits the principal evenly across all months with no interest.
Is the last payment exactly right?
Yes. The final row is adjusted so the balance reaches exactly zero despite normal floating-point rounding.