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Two Repayment Methods Amortization Table Balance Chart

Loan Calculator

Compare the two standard repayment methods — equal installment (same payment every month) and equal principal (declining payments) — with total interest, a full monthly amortization schedule and a balance chart.

Privacy protection: All calculations are performed locally in your browser. No loan details are stored or uploaded, ensuring your privacy.
Loan Terms
Repayment Summary
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Monthly payment
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Total interest
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Total repaid
Remaining balance Monthly interest
MonthPaymentPrincipalInterestBalance

For reference only — quotes, fees and insurance from your lender take precedence, and this is not financial advice.

How to compare loan repayment methods

  1. Enter the loan amount, annual interest rate and term in years.
  2. Pick a method: equal installment keeps the payment identical every month; equal principal pays a fixed slice of principal plus interest.
  3. Read the summary — monthly payment (first and last for equal principal), total interest and total repaid.
  4. Scroll the amortization table to see how each payment splits between principal and interest.
  5. Switch methods and compare total interest: the difference is usually largest in the early years.

Frequently Asked Questions

What is the difference between equal installment and equal principal?

Equal installment (annuity) keeps every payment identical because early payments are mostly interest; equal principal repays a fixed slice of principal each month, so payments start high and decline. Equal principal always costs less total interest but demands more cash flow early on.

Why is my first payment mostly interest?

Interest each month is charged on the remaining balance, which is at its maximum on day one. As the balance falls, the interest slice shrinks and the principal slice of the same payment grows — that shift is visible in the amortization table.

How is the equal installment payment calculated?

With the standard annuity formula: principal × monthly rate × (1 + rate)^months ÷ ((1 + rate)^months − 1). The tool also smooths the final payment so rounding cannot leave a residual balance.

Is my loan information stored or sent anywhere?

No. Every calculation runs locally in your browser the moment you type, and nothing is saved, logged or transmitted — close the tab and nothing remains.

Is this financial advice?

No. The schedule assumes a fixed rate with no fees, insurance or early repayments, which real loans add. Use it to understand the mechanics and compare shapes of repayment; your lender’s quote is the binding one.