Loan Calculator
Paying back a fixed amount periodically
Payment Every Month: $1,110.21
Results
- Loan Amount
- $100,000.00
- Total of 120 Payments
- $133,224.60
- Total Interest
- $33,224.60
- Payoff Date
- Nov 2036
Amortization schedule
| Year | Date | Interest | Principal | Ending balance |
|---|---|---|---|---|
| 1 | Nov 2027 | $5,795.24 | $7,527.22 | $92,472.78 |
| 2 | Nov 2028 | $5,330.98 | $7,991.48 | $84,481.29 |
| 3 | Nov 2029 | $4,838.08 | $8,484.38 | $75,996.91 |
| 4 | Nov 2030 | $4,314.78 | $9,007.68 | $66,989.23 |
| 5 | Nov 2031 | $3,759.21 | $9,563.25 | $57,425.98 |
| 6 | Nov 2032 | $3,169.37 | $10,153.09 | $47,272.88 |
| 7 | Nov 2033 | $2,543.14 | $10,779.32 | $36,493.57 |
| 8 | Nov 2034 | $1,878.30 | $11,444.16 | $25,049.41 |
| 9 | Nov 2035 | $1,172.45 | $12,150.01 | $12,899.40 |
| 10 | Nov 2036 | $423.06 | $12,899.40 | $0.00 |
Balance, interest, and payments over time
- Balance
- Interest
- Payments
Amortized loan
An amortized loan is repaid in fixed payments over the life of the loan. Each payment covers the interest owed for that period and reduces the remaining principal. Early payments are mostly interest, while later payments go more toward principal.
The monthly payment is calculated with the standard amortization formula:
M = P × r × (1 + r)^n / ((1 + r)^n − 1)
P is the loan amount, r is the interest rate per payment period, and n is the number of payments. The calculator supports monthly, quarterly, semi-annual, and annual compounding while keeping the payment schedule monthly.
Deferred payment loan
A deferred payment loan does not require periodic payments. Interest compounds over the loan term, and the borrower repays the entire balance as a lump sum at maturity.
The amount due at maturity is:
A = P × (1 + r / n)^(n × t)
P is the original loan amount, r is the annual interest rate, n is the number of compounding periods per year, and t is the term in years. For example, $100,000 at 6% compounded annually for 10 years grows to about $179,085.
Bond
A bond calculation works in the opposite direction. The borrower receives a present value today and repays a predetermined amount at maturity. The present value is the amount that would grow to the maturity value at the stated interest rate.
The present value is:
P = F / (1 + r / n)^(n × t)
F is the amount due at maturity, r is the annual interest rate, n is the number of compounding periods per year, and t is the term in years. For example, $11,000,001 due in 10 years at 6% compounded annually has a present value of about $6,142,343.
Frequently asked questions
What is the difference between APR and APY?
APR is a nominal annual rate that does not account for compounding within the year. APY is the effective annual rate after compounding is included. At the same stated rate, more frequent compounding produces a higher APY.
What happens when interest compounds more often?
More frequent compounding increases the effective rate and the total interest paid. The calculator lets you compare monthly, quarterly, semi-annual, and annual compounding.
Does the amortized loan calculator include fees?
No. It calculates principal and interest only. Origination fees, late fees, insurance, and other charges are not included unless you add them to the loan amount.
Can I use the deferred payment mode for a balloon loan?
Yes. A balloon loan with no periodic payments until the final due date has the same cash flow pattern as a deferred payment loan.
Source
Reference: Consumer Financial Protection Bureau — Loan Options.
Disclaimer
This calculator is for informational and planning purposes only. It is not a loan offer, financial advice, or a guarantee of financing terms. Confirm all figures with a qualified lender or financial professional.