Loan amortization table
An amortization schedule breaks every payment into principal, interest, and remaining balance. This calculator uses the French system (fixed installment): the standard for personal loans, auto loans, and many mortgages in Latin America.
With $10,000 at 12% APR for 24 months:
- Monthly payment: $470.73
- Total paid: $11,297.52
- Total interest: $1,297.65
- Month 1: principal $370.73 · interest $100.00 · balance $9,629.27
- Month 24: almost all principal; balance ends at $0
What this tool calculates
- Fixed monthly payment (French PMT)
- Month-by-month table: payment, principal, interest, balance
- Total paid and cumulative interest
- Reference scenarios to compare rate and term
It does not add origination fees or monthly insurance. For an all-in consumer-loan estimate use the personal loan calculator.
Monthly payment formula (French system)
r = annual rate / 12 / 100
Payment = P × [r(1+r)^n] / [(1+r)^n − 1]
P = principal, r = monthly rate, n = number of months. If the rate is 0, payment = P ÷ n.
Each month:
- Interest = balance × r
- Principal = payment − interest
- New balance = balance − principal
Early months are interest-heavy; later months are principal-heavy.
Step-by-step example (defaults)
Inputs: $10,000 · 12% APR · 24 months
- Monthly rate r = 0.12 / 12 = 0.01
- Payment ≈ $470.73
- Month 1: interest = 10,000 × 0.01 = $100.00 → principal $370.73 → balance $9,629.27
- Month 2: interest ≈ $96.29 → principal $374.44 → balance $9,254.83
- Month 24 closes the balance at 0
- Total paid ≈ $11,297.52 · interest ≈ $1,297.65
Scenario table (same engine logic)
Amounts rounded to 2 decimals like the live calculator. Run your own numbers above for exact cases.
| Amount | APR | Term | Payment | Total paid | Interest |
|---|---|---|---|---|---|
| $10,000 | 12% | 24 months | $470.73 | $11,297.52 | $1,297.65 |
| $10,000 | 24% | 24 months | $528.71 | $12,689.04 | $2,689.07 |
| $25,000 | 18% | 36 months | $903.81 | $32,537.16 | $7,537.17 |
| $50,000 | 12% | 60 months | $1,112.22 | $66,733.20 | $16,733.40 |
| $100,000 | 10% | 120 months | $1,321.51 | $158,581.20 | $58,580.56 |
How to read each column
| Column | Meaning |
|---|---|
| Month | Payment number (1…n) |
| Payment | Fixed installment |
| Principal | Portion that reduces debt |
| Interest | Cost of that month’s balance |
| Balance | Debt left after the payment |
French vs German (quick compare)
| System | Payment | Principal | Typical use |
|---|---|---|---|
| French | Fixed | Rises over time | Consumer loans & many mortgages |
| German | Falls over time | Fixed each month | Some business credits |
This page implements French amortization only.
Ways to pay less interest
- Extra principal payments when allowed
- Shorter term: higher installment, lower total interest
- Better rate: 1 point compounds over long terms
- Pair with early loan payoff and debt payoff
- Check affordability with debt-to-income ratio
What is included / excluded
Included (educational model):
- Fixed PMT and full schedule
- Interest on declining balance
- Totals for payment and interest
May differ from your contract:
- Origination fees, insurance, fixed monthly charges
- Official APR/CAT from the lender
- Variable rates, late fees, restructuring
- Day-count conventions and bank rounding
- Non-French amortization methods
This tool is educational. It is not a bank quote or credit advice. Real rates, fees, and schedules depend on your contract and lender. Verify current terms before you sign.
FAQ
A payment calendar for a loan: each month shows installment, principal, interest, and remaining balance until the debt is zero.
The payment is fixed. Early months are interest-heavy; later months are principal-heavy. It is the default structure for most consumer loans in the region.
With this calculator’s defaults: $470.73 per month, total $11,297.52, interest $1,297.65.
Yes if they reduce principal: future interest drops. Check prepayment fees and model the impact with early loan payoff.
Yes for any fixed-payment loan. Adjust amount, rate, and months. For Guatemala mortgages you can also start from the Guatemala mortgage calculator.
Insurance, fees, VAT on charges, rounding, or a different effective rate may apply. Treat this schedule as an educational reference and compare with the official disclosure.
Negotiate rate, reduce principal (down payment), or combine a moderate term with extra principal payments. Also try personal loan with fees and insurance.