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".