Amortization Schedule Calculator: Equal Principal Payments

Amortization Schedule
Equal Principal Payments
Loan Amount: $
Interest Rate:   % per year
Number of Payments:
 
Payment Frequency:  

Calculator Use

Over the life of the loan, payments decrease (decreasing installments), the principal portion remains constant and the interest portion decreases. In this type of amortization the principal paid, not the total payment, remains constant.

Use this calculator to create a printable amortization schedule for a loan that has declining interest and declining payment amounts while principal payments remain constant. This schedule can be for a loan or mortgage with equal principal payments.  Also called "Fixed principal declining interest loan payment table".

Payment Amount = Principal Part + Interest Part

Loan Amount
Amount or present value of the loan.
Interest Rate
The annual stated rate of your loan. Nominal rate.
Number of Payments
The total number of payments, initial or remaining, to pay off the given loan amount.
Payment Frequency
Calendar periods that payments will be made. (e.g. Weekly, Monthly, Quarterly, etc.)
Compounding
Assumed to be coincide with payments.  When payment and compounding frequency do not coincide, first use the Loan Calculator with Compounding and the Interest Rate will be calculated in terms of payments.

More common method to amortize a loan is with constant loan payments.

 

Cite this content, page or calculator as:

Furey, Edward "Amortization Schedule Calculator: Equal Principal Payments" From http://www.CalculatorSoup.com - Online Calculator Resource.