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An amortization schedule breaks down every loan payment into its principal and interest components over the full loan term. It shows exactly how much of each payment reduces the balance versus paying interest.
सूत्र
Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
चरण-दर-चरण मार्गदर्शिका
- 1Calculate fixed monthly payment using the annuity formula
- 2Month 1 interest = balance × monthly rate; principal = payment − interest
- 3New balance = previous balance − principal; repeat until balance = 0
हल किए गए उदाहरण
इनपुट
$250,000 loan · 6% annual rate · 30 years
परिणाम
Monthly payment = $1,498.88 · Total interest paid = $289,595
In month 1 only $248.88 of $1,498.88 reduces the principal balance
सामान्य गलतियां जिनसे बचना है
- ✕Comparing APR vs note rate when calculating payments
- ✕Forgetting taxes and insurance in total housing cost
- ✕Ignoring prepayment penalties when planning extra payments
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