This spreadsheet-based calculator creates an amortization schedule for a fixed-rate loan, with optional extra payments.
Start by entering the total loan amount, the annual interest rate, the number of years required to repay the loan, and how frequently the payments must be made. Then you can experiment with other payment scenarios such as making an extra payment or a balloon payment. Make sure to read the related blog article to learn how to pay off your loan earlier and save on interest.
The payment frequency can be annual, semi-annual, quarterly, bi-monthly, monthly, bi-weekly, or weekly. Values are rounded to the nearest cent. The last payment is adjusted to bring the balance to zero.
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Loan Amortization