What's actually in an amortization schedule
An amortization schedule is the row-by-row proof behind your monthly payment. Six columns tell the whole story of a loan:
- Payment # — which payment in the sequence this is, from 1 to the total term.
- Date — the calendar date that payment is due, based on your first payment date.
- Payment — the total amount due that month (principal + interest combined).
- Principal — the portion of that payment that actually reduces what you owe.
- Interest — the portion that's the lender's charge for the money still outstanding.
- Balance — what's left to pay off after that payment lands.
The principal and interest columns move in opposite directions across the life of the loan: interest starts high and falls, principal starts low and rises, because interest is always calculated on whatever balance remains that month — not on the original amount borrowed.
A quick example: a $25,000 auto loan
At 7% annual interest over 5 years (60 monthly payments), starting January 2026:
| Item | Amount |
|---|---|
| Monthly payment | $495.03 |
| Payment 1 — interest | $145.83 |
| Payment 1 — principal | $349.20 |
| Balance after payment 1 | $24,650.80 |
| Total interest over 5 years | $4,701.80 |
| Total paid | $29,701.80 |
| Payoff date | December 2030 |
Enter $25,000, 7%, 5 years into the calculator above and it produces this exact schedule, 60 rows, one per month. For the full step-by-step derivation of the underlying formula and a larger mortgage-sized example, see the main amortization calculator.
Frequently asked questions
What columns does an amortization schedule have?
A standard schedule lists, for every payment: the payment number, its calendar date, the total payment amount, how much of it is principal, how much is interest, and the balance remaining after that payment. This calculator generates all six columns for every payment in the loan.
Can I see the schedule for the full loan term, not just a summary?
Yes. The table above lists every single payment from month one to payoff, not a shortened or sampled version — a 30-year loan shows all 360 rows.
How do I export the schedule to a spreadsheet?
Click "Download CSV" above the table. It saves a plain CSV file with every row that opens directly in Excel, Google Sheets, or Numbers, so you can sort, chart, or annotate it yourself.
Why does the balance column matter more than just the payment amount?
The payment amount is fixed, so on its own it doesn't tell you how much you actually owe. The balance column is the number that matters for payoff planning, refinancing decisions, and figuring out how much interest you'd still avoid by paying extra.
Does the schedule change if I add extra payments?
Yes. Turning on the extra payment option recomputes every row — the balance drops faster, less interest accrues each month, and the table (and the payoff date) end earlier than the loan's original term.