Loan calculator with amortization schedule
Work out the monthly payment and total interest on a loan or mortgage. The sheet builds a month-by-month schedule showing how much of each payment goes to interest, how much to principal, and what remains afterwards.
- Your file never leaves your device
- Free
- No sign-up
Calculating a loan
1Enter the terms
Loan amount, annual interest rate and term in years go in the yellow cells.
2Read the payment
The fixed monthly payment comes from PMT; total interest is everything you pay minus the amount borrowed.
3Study the schedule
Row by row, the interest share shrinks while the principal share grows.
How the schedule works
An amortizing loan has the same payment every month. Early on, most of it covers interest; near the end, most of it pays down principal. The schedule uses IPMT and PPMT for each month and a running total for the remaining balance.
To compare offers, duplicate the sheet and change the rate or the term — the payment, total interest and the whole schedule recalculate instantly.
Frequently asked questions
Do I need an account or a subscription?
No. The tool is free and needs no sign-up. An account only adds cloud storage, so your workbooks follow you between devices and save themselves.
Does it work for a mortgage?
Yes — a fixed-rate mortgage is calculated the same way. Enter the term in years, for example 30, and the schedule grows to 360 rows.
What about extra payments?
The template models a standard schedule. For extra payments, add a column for them in the editor and subtract it from the balance.
Can I chart the balance?
Yes. Select the payment number and remaining balance columns and choose Insert → Chart → Line.
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