Repayment Schedule Calculator
Plan loan payments with detailed amortization
Loan Details
Total amount borrowed
APR for the loan
Number of monthly payments
Optional extra payment each month
Repayment Scenarios
Standard 12-Month Loan
$10k at 6% for 12 months. Monthly: $860.66. Total interest: $327.92. First payment: $810.66 principal + $50 interest. Last payment: $856.36 principal + $4.30 interest. Interest drops each month.
Extra Payment Impact
Same $10k loan. Add $100 extra monthly. Payoff in 11 months instead of 12. Total interest: $295 vs $328. Saved $33. Extra payments go straight to principal, cutting interest fast.
Long-Term Amortization
$50k at 5% for 60 months. Monthly: $943.56. Total interest: $6,613. Year 1: $2,200 interest, $9,122 principal. Year 5: $234 interest, $11,088 principal. Interest front-loaded.
High Interest Cost
$20k at 12% for 24 months. Monthly: $941.17. Total interest: $2,588. Nearly 13% of loan amount. First payment: $741.17 principal + $200 interest. High rates hurt.
Short-Term High Payment
$15k at 8% for 6 months. Monthly: $2,557.50. Total interest: $345. High monthly but low total interest. Fast payoff. Good if you can afford high payments and want to minimize interest.
Budget Planning
$8k at 7% for 18 months. Monthly: $475.82. Fits $500 budget. Total: $8,564.76. Can see exact payment each month. Plan cash flow. Know when loan ends. No surprises.
Frequently Asked Questions
What is repayment schedule?
Table showing each payment split into principal and interest. Shows remaining balance after each payment.
How calculate monthly payment?
Payment = P × [r(1+r)^n] / [(1+r)^n - 1]. $10k at 6% for 12 months = $860.66/month.
What is amortization?
Gradual loan payoff. Early payments mostly interest. Later mostly principal. Payment amount stays same.
Can pay off early?
Yes. Extra payments reduce principal. Saves interest. No prepayment penalty in DeFi. Pay anytime.
Why interest higher at start?
Interest calculated on remaining balance. Higher balance = more interest. As principal drops, interest drops too.
Extra payment benefits?
Goes to principal. Reduces future interest. Shortens loan term. $100 extra monthly can save hundreds in interest.
Shorter vs longer term?
Shorter = higher monthly, less total interest. Longer = lower monthly, more total interest. Choose based on budget.
Fixed vs variable rate?
Fixed = same rate entire loan. Variable = rate changes. DeFi mostly variable. Schedule changes when rate changes.
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