Loan Paydown Calculator
This calculator will tell you how quickly you will pay off a loan based on the loan balance, rate, months left, monthly payment, and actual payment amount.
With an amortized loan, every loan payment includes part interest and part principal. More of your payment is interest in the beginning of the loan. As you make payments, gradually more of your payment goes to principal. Most installment loans are amortized loans. For example, a car loan, a mortgage, or a personal loan. A line of credit and credit cards are not amortized loans.