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Free Loan Amortization Tool w/ Additional Payments

The loan amortization schedule below details each periodic payment on an amortizing loan. This tool differs from the normal loan amortization tool in 2 distinct ways; additional payments can be made and it can only handle 180 months. A portion of every payment is applied towards interest and principle. Initially, a large portion of each payment is dedicated to interest. Later in the term of the loan less interest will be paid and more will go towards principle. The calculation used to arrive at the periodic payment amount assumes that the first payment is due one full payment period into the loan. In many cases one full payment period will be one month.

Simply input your Loan Amount, Loan Interest Rate and Loan Term then click "Calculate".
The loan amortization schedule tool can be purchased and downloaded in Microsoft Excel for only $6. Please follow the link below to download this tool. Following your payment, you will be redirected to the download page.

Free Loan Amortization Tool w/ Additional Payments

             
    Loan Amount  
    Loan Interest Rate (APR)  
    Loan Term (months)  
     
    Additional Monthly Payment  
     
    New Loan Term  
    Total Interest Paid  
   
  Month Balance Principle Interest Payment Total Interest
  1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
       



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