Calculate amortizations for equal payment or equal principal plans instantly with grace period support, pie charts, and payment schedule tables.
| Month | Payment | Principal Paid | Interest Paid | Remaining Balance |
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Calculate amortizations for equal payment or equal principal plans instantly with grace period support, pie charts, and payment schedule tables. Use it for everyday work, development, learning, or quick verification.
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Your monthly mortgage payment depends on the loan amount, the annual interest rate, the number of payments and the repayment method. The calculator divides the annual rate by 12 to get the monthly rate r and multiplies the term in years by 12 to get the number of payments n. With the most common method, equal monthly payments (annuity), the payment stays fixed and is calculated as P × r × (1+r)^n ÷ ((1+r)^n − 1). For example, borrowing 300,000 at 6% over 30 years costs about 1,799 per month.
With equal principal repayment, you pay back the same amount of principal every month and interest is charged on the remaining balance. The first payment is the highest and each later payment is a little smaller. Because the principal is reduced faster, total interest is lower than with equal payments, but the early months are more demanding. The calculator shows the first payment and a full schedule with principal, interest and remaining balance so you can compare both methods side by side.
A grace period (interest-only period) means you pay only interest for the first few years. Payments are lower during that time, but the principal does not shrink. Once the grace period ends, the full principal must be repaid over the remaining term, so the monthly payment rises noticeably and total interest increases. Always check the post-grace payment before choosing this option.
Real loans may use variable or tiered rates and include fees or insurance, and lenders can differ slightly in how they count interest. Use the results for budgeting and comparing offers, and rely on your lender’s documents for exact figures. Amounts are entered in units of ten thousand, as is common in Taiwan. All calculations stay in your browser.
With the same rate and term, equal principal repayment results in less total interest, but the first payments are higher. Equal payments are easier to budget.
During an interest-only period the principal is not reduced, so it must be repaid over fewer remaining months, raising each payment and total interest.
For equal payments: P × r × (1+r)^n ÷ ((1+r)^n − 1), where r is the annual rate ÷ 12 and n is the number of months.
It is usually very close, but variable rates, fees and day-count rules can cause small differences. Your loan documents are authoritative.
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