Finance calculators
Loan amortisation
Level-payment repayment schedule showing how each instalment splits between interest and principal.
Inputs
Summary
Methodology
Conventions
- Nominal annual rate compounded at the payment frequency m, so the periodic rate is i = r / m.
- Level payments (annuity); the final payment clears any rounding residue.
References
- Kellison, The Theory of Interest, ch. 5
Formulas
- Instalment
- A = L · i / (1 − (1 + i)⁻ⁿ)
- Interest in period k
- Iₖ = Bₖ₋₁ · i
- Principal in period k
- Pₖ = A − Iₖ, Bₖ = Bₖ₋₁ − Pₖ