Loan Amortization Calculator

Published: 4/25/2021 Last updated: 4/25/2021

Loan Amortization Calculator Definition

Loan Amortization Calculator is an easy to use calculator that lets you know all the necessary details you need to know about your loan. It'll show you details about your monthly payments, interest rate, how much your total interest is, etc. All the amount will be interpreted in dollars but feel free to disregard it to fit your supposed currency.

By providing all the necessary details, the Loan Amortization Calculator will show you your monthly payment and the corresponding interest that's included. In the end, it will also show you how much the total interest will be at the end of your payments.

Loan Amortization Calculator fields:

Loan Amount - The total amount you've loaned. Please don't put any commas or periods as the calculator automatically fills it out.

Number of Payments - This corresponds to your payment schedule and how long you are given to complete payment. If you're under a 1-year arrangement, then that'll be 12 months, so put 12. 24 for 2 years. And so on.

Annual Interest Rate - This is the rate of interest you're looking at. Please don't put a percent sign (%) as the calculator automatically puts it.