How to read an amortization table
An amortization table shows how a loan balance changes with each scheduled payment. Instead of showing only the monthly bill, it separates the amount that pays down your debt from the amount charged as interest.
This guide uses the same fixed-rate, monthly-payment method as the free amortization calculator. Updated October 3, 2026.
What the five columns mean
| Column | What to look for |
|---|---|
| Payment # | The payment’s place in the schedule. A 30-year loan starts with 360 monthly payments before any early payoff. |
| Payment | The principal-and-interest amount paid that month, including any extra monthly principal you entered. The final payment can be smaller. |
| Principal | The part that reduces the amount you owe. |
| Interest | The borrowing cost for that month, calculated from the opening balance and monthly interest rate. |
| Balance | The principal remaining after that payment. |
A $300,000 loan, worked through
Assume a $300,000 loan at a fixed annual interest rate of 6.5%, repaid monthly over 30 years. The calculated principal-and-interest payment is about $1,896.20. Taxes, insurance and other charges are excluded.
- Calculate the first month’s interest: $300,000 × 0.065 ÷ 12 = $1,625.00.
- Subtract interest from the payment: about $1,896.20 − $1,625.00 = $271.20 toward principal.
- Subtract principal from the balance: about $300,000 − $271.20 = $299,728.80 remaining.
The next month starts with a lower balance. At the same rate, its interest charge is slightly smaller, leaving more of the regular payment available for principal. This gradual change is why the first and last rows of a loan table look so different.
The payment formula
Monthly payment = P × r ÷ [1 − (1 + r)−n]
P is the loan amount. r is the annual interest rate as a decimal divided by 12. n is the number of monthly payments. For this example, r = 0.065 ÷ 12 and n = 360. At 0% interest, divide the loan amount by the number of payments instead.
My Loan Table keeps full precision during the calculation and rounds the displayed figures to cents. A lender that rounds each monthly calculation can produce slightly different results.
Use the interest rate, not APR
APR includes certain borrowing costs beyond the interest rate. To calculate principal and interest here, enter the loan’s stated interest rate. The CFPB explains the difference between mortgage interest rate and APR.
Printing and saving your schedule
Enter your amount, interest rate and term, then choose Calculate my schedule. Use Print schedule for a paper copy or your browser’s Save as PDF option. Download CSV saves the rows for a spreadsheet. Neither requires an account.
When the estimate needs extra care
A current balance and remaining term can provide a useful estimate, but the recalculated payment may differ from your existing contractual payment. This tool does not model daily interest, changing rates, interest-only periods, balloon payments or missed payments. Your mortgage bill may also include escrow and insurance amounts outside this schedule.
For background, see the CFPB’s explanation of amortization. To explore a different schedule, read our extra-payment example.
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