Amortization Calculator
This is a simple calculator that
shows you the balance of your loan
over the length of the loan. It
also shows you what amount of your
payment is interest, and what
amount is being applied to the
principal. The difference between
the payment amount and the
interest amount, is the figure
being applied to the principal. As
you can see, in the beginning more
of your payment is used towards
paying the interest of the loan
then paying off the balance. View
the Bi-Weekly calculator to see
how making payments every 4 weeks
instead of every month can save
you thousands of dollars or take
years off the term of the loan. |