Calculate your loan payment schedule with total interest and principal payments. Visualize your payment journey with an interactive chart.

Amortization Schedule Calculation

Purpose

The Amortization Schedule Calculation function in this web app helps users understand and visualize the repayment schedule of a loan over time. It breaks down each payment into principal and interest components, showing how much of each payment goes towards paying off the loan amount and how much goes towards interest.

Use Cases

• Planning for a loan repayment schedule
• Understanding how much of each payment goes towards interest and principal
• Visualizing the loan repayment progress over time

How to Use

1. Enter the loan amount, annual interest rate, and loan term in years.
2. Click on the "Calculate" button to generate the amortization schedule.
3. View the detailed breakdown of each payment in the schedule.
4. Use the chart to visualize the total principal, total interest, total payment, and remaining principal over time.

Input Values

1. Loan Amount: The total amount of the loan (default unit is dollar)
2. Annual Interest Rate: The annual interest rate for the loan (default unit is percentage)
3. Loan Term Years: The number of years for the loan term

Output Values

1. Amortization Schedule: A table showing the breakdown of each payment including principal payment, interest payment, total principal, total interest, total payment, and remaining principal.
2. Amortization Chart: A visual representation of the total principal, total interest, total payment, and remaining principal over time.

Any other Instruction

• Make sure to input accurate values for the loan amount, annual interest rate, and loan term to get an accurate amortization schedule.
• Use the chart to better understand how your loan repayment progresses over time.

Code Analysis

1. Calculate the monthly interest rate based on the annual interest rate.
2. Determine the total number of payments based on the loan term.
3. Calculate the monthly payment using the amortizing loan formula.
4. Generate the amortization schedule by calculating the principal and interest payments for each payment number.
5. Create a table and chart to display the schedule and visualize the loan repayment progress.

Technical Parameters

• loan_amount, annual_interest_rate, loan_term_years

Return Values

• Amortization Schedule, Amortization Chart

Example Expressions

You can use the following expressions to directly evaluate in a non-interactive manner using eva():

amort(120000, 6, 15)
amort(80000, 4.5, 20)

Click on Help icon to open the help page on a separate window.