| Month | Payment | Principal | Interest | Balance |
|---|
Every row is calculated month by month — the balance always reaches exactly zero on the final payment.
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments. At a 0% interest rate, the payment is simply P ÷ n. This works for any loan in any currency — it's pure principal-and-interest math with no country-specific fees included.
PMT = P × r × (1+r)^n / ((1+r)^n − 1) with monthly r = annual%/100/12 and n months (or P/n if r is 0). The schedule applies interest to the remaining balance each month; the last row clears the leftover principal exactly. Simple interest is I = P × r × t; compound is P(1 + r/n)^(n t). You enter the rate — not lending or tax advice.
I = P × r × t, where P is the principal, r is the annual rate as a decimal, and t is time in years. Total amount = P + I. Simple interest never compounds — it's calculated only on the original principal.
A = P × (1 + r/n)^(n×t), where P is the principal, r is the annual rate as a decimal, n is the number of times interest compounds per year, and t is time in years. Total interest earned = A − P.
The loan tab models a repaying loan, where each payment covers interest plus a shrinking principal balance over the full schedule. The simple and compound interest tabs are pure growth calculations with no repayments — useful for a savings or lump-sum interest question rather than a loan schedule.
Rounding. The final row clears whatever principal is actually left rather than repeating the exact same payment amount every time, so a cent or two of difference on the last row is expected and correct.
Simple interest is calculated only on the original principal every period (I = P × r × t). Compound interest is calculated on the growing balance, including interest already added, so it grows faster the more frequently it compounds.
No — it's pure principal-and-interest math based on the amount, rate and term you enter. Real loan repayments may include additional fees or insurance your lender adds separately.