Amortization Schedule Calculator
Jenzzy builds a payment-by-payment schedule showing remaining balance and cumulative interest over the loan life.
Inputs
Results
Enter values to see results.
Formula
Interestₙ = Balanceₙ₋₁ × r; Principalₙ = M − Interestₙ
Early payments are interest-heavy; principal portion grows as balance shrinks.
Example
- Payment 1 interest: $1,250.00
- Payment 1 principal: $249.04
- Year 1 total interest: ≈ $14,916
Result: First-year interest ≈ $14,916 on a $250k loan
Frequently Asked Questions
Why is early interest high?
Interest is charged on the full remaining balance each month.
Prepayment impact?
Extra principal cuts future interest and shortens the term.
Biweekly payments?
Equivalent to one extra monthly payment per year when structured correctly.