Free Loan Amortization Calculator
With Unknown Variable Calculation

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Helps you to find the missing loan term if any three of the four terms are known, and provides a printable loan amortization schedule.

This online Free Loan Amortization Calculator will calculate the unknown variable from three known variables -- for all of the most common payment intervals.

Plus, unlike most other loan amortization calculators, the calculator on this page gives you the option to create and print a free loan amortization schedule.

If you are making a monthly payment and you're not interested in printing out any loan amortization tables, please visit the Missing Term Loan Calculator.

Most Commonly Used to Find the Payoff Amount

If you know any 3 of the 4 loan variables (principal, interest rate, monthly payment and number of payments remaining) this calculator will use TVM (time value of money) calculations to calculate the unknown variable.

The most common use for this calculator is to calculate the current payoff amount of existing loans. After all, you usually know the annual interest rate, the number of payments remaining, and the monthly payment amount. What's not always clear is how much money it will take to pay off a loan this month.

That's because the payoff amount cannot be arrived at by simply multiplying the monthly payment amount by the number of payments remaining, as future payments include interest charges that will not apply if the loan is paid off early.

With that, let's use the free loan amortization calculator to calculate the unknown variable, and then create and print the loan amortization chart if you so desire.

Unknown Variable and Loan Amortization Calc
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Instructions: Select the loan's payment interval and enter the three known variables while leaving the unknown variable blank, then click the "Calculate Unknown Loan Variable" button.

Once you have solved for the unknown variable, indicate the date the first or next payment is due, and then click the "Printer Friendly Loan Amortization Schedule" button. This will open a pop-up window containing a loan amortization chart that you can print out.

Mouse over the blue question marks for a further explanation of each entry field. More in-depth explanations can be found in the glossary of terms located beneath the Free Loan Amortization Calculator.

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Help Payment interval:
Help Principal or current payoff amount ($):
Help Annual interest rate :
Help Payments remaining (#):
Help Payment amount ($):
Help Unknown variable:
Help Total years:
Help Total principal and interest payments:
Help Total interest:
Help Optional first/next payment due date:
Please grade my work and help me improve:
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Free Loan Amortization Calculator Glossary of Terms

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Payment interval: Select the payment interval stated in the original loan terms.

Principal or current payoff amount: If known, enter the principal balance or current payoff amount. Otherwise leave blank and complete the other three fields.

Annual interest rate: If known, enter the annual interest rate as a percentage (for .065, enter 6.5%). If the interest rate is not known, to save the free loan amortization calculator from making unnecessary iterations, please select your best guess from the drop down menu (default guess is 10%) and the calculator will attempt to calculate the rate for you given the other three known variables.

Payments remaining: If known, enter the number of payments remaining on the loan. Otherwise, leave blank and complete the other three fields.

Payment amount: If known, enter the monthly payment amount. Otherwise, leave blank and complete the other three fields.

Unknown variable: This cell will state the the title of the unknown variable that has been calculated, with the amount of the unknown variable located in the right-hand column.

Total years: This result converts the number of monthly payments remaining to the number of years remaining.

Total payments: This result is the total of all payments between now and when the balance is paid off.

Total interest: This result is the total interest that will be paid between now and when the balance is paid off.

Optional first/next payment due date: Indicate the date the first or next payment is due. If you leave the year field blank, the amortization schedule will show today's date as the date of the first payment. Note that the calculator only includes interest for the selected payment period (does not include additional interest which may be charged when the first payment is longer than one payment period from the origination date).

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