How are extra payments applied in the schedule?

Recurring extras (weekly through yearly) are converted to a monthly amount and added each period after interest is deducted from the regular payment. One-time balloon or dated payments add a lump principal reduction in the chosen month.

Monthly vs yearly breakdown?

Monthly lists every payment period. Yearly sums payment, principal, and interest by calendar year and includes a final total row.

Why is early interest higher than later interest?

Interest is charged on the opening balance each month. As principal is paid down, the interest portion shrinks even when the payment amount stays the same.

How is this different from the Loan Calculator?

Both use the same math. The Loan Calculator emphasizes payment summary; this tool emphasizes the amortization table. For payoff time from an existing balance, use the Loan Payoff Calculator.

Is interest compounded monthly?

Yes. The annual rate is divided by 12 for monthly accrual, matching common installment-loan calculators. Effective annual % is shown in the loan summary when using the related calculators.

Amortization Calculator – shoutingnow.com

Loan Summary

Monthly payment

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Total interest paid

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Number of payments

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Total to be repaid

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Estimated payoff

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Effective annual %

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Amortization schedule

Month	Payment	Principal	Interest	Balance

Note: Interest is compounded monthly. This calculator is for illustrative purposes only and does not constitute financial advice.

How to use this amortization calculator

Enter loan amount, interest rate, term, and first payment date.
Optional: model additional payments at weekly, monthly, quarterly, half-yearly, or yearly frequency.
Optional: add extra fees (check “add to loan?” if financed into the principal) or a one-time payment as balloon or on a specific date.
Click Calculate and switch between Monthly breakdown and Yearly breakdown tables.

For a payment-focused summary with the same inputs, use the Loan Calculator. To find how long an existing balance takes to clear at your current payment, try the Loan Payoff Calculator.

What is an amortization schedule?

An amortization schedule lists every payment period: how much goes to interest, how much retires principal, and the remaining balance. Early payments are interest-heavy; later payments apply more to principal in dollar terms even when the payment amount stays fixed.

Reading the table

Payment — total outflow that month (regular + extra).
Principal — portion that reduces the balance.
Interest — cost of borrowing on the opening balance.
Balance — amount still owed after the payment.

The yearly view aggregates each calendar year and includes a final total row.

Extra payments and fees

Recurring extras are converted to a monthly equivalent based on frequency — for example, $52 weekly ≈ $225.33 per month alongside your standard payment. Financed fees increase the starting principal when “add to loan?” is checked.

Examples and use cases

Worked example

A $200,000 mortgage at 6% for 30 years (360 months):

Monthly payment ≈ $1,199
First payment: ~$1,000 interest, ~$199 principal
Total interest over 30 years ≈ $231,676

Real-world use cases

Refinance decision: A homeowner exports the yearly breakdown to compare interest saved by refinancing from 7% to 6% with closing costs rolled in.
Extra payment strategy: Someone adds $200 monthly to see how many years drop off a 30-year schedule and how much interest they avoid.
Loan disclosure review: A borrower verifies that the lender’s amortization table matches their principal, rate, and first payment date before closing.

For investment and savings growth with compounding, see the Compound Interest Calculator.