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
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.