APR Calculator with Amortization Table

APR Calculator Guide

📌 What is APR?

APR stands for Annual Percentage Rate. It represents the yearly cost of borrowing money, including interest and other charges, expressed as a percentage. It helps you compare different loan offers effectively.

📈 What is an Amortization Table?

An amortization table breaks down each monthly loan payment into:

  • Principal: The amount that goes toward reducing the loan balance
  • Interest: The amount paid for borrowing the money
  • Balance: Remaining loan amount after each payment

💡 How to Use the APR Calculator?

  • Enter the total loan amount (principal you are borrowing)
  • Enter the annual interest rate (in %)
  • Enter the loan term in years (e.g., 10, 20)
  • Click "Calculate APR" to see your monthly payment
  • View the full amortization breakdown in the table below

✅ Why Use This Tool?

This calculator helps you:

  • Understand true loan costs
  • Plan finances better with clear monthly payment info
  • Compare different loan options confidently

🧮 Formula Used

The monthly payment is calculated using the standard loan formula: EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1] where:
P = Loan amount
r = Monthly interest rate
n = Total number of months