Amortization schedule explained

An amortization schedule is a table that shows how a loan balance changes over time. Each row usually lists the payment number or date, payment amount, principal paid, interest paid, and remaining balance.

The table is useful because a fixed monthly payment does not mean principal and interest stay equal. At the beginning of a loan, the balance is high, so more interest is charged. Later in the schedule, the balance is lower, so more of the same payment reduces principal.

Principal

Principal is the amount borrowed that still needs to be repaid. Payments that reduce principal lower the balance and reduce future interest charges.

Interest

Interest is the cost of borrowing money. In a typical fixed-rate amortization estimate, monthly interest is based on the remaining balance and the monthly rate.

Balance

The balance is what remains after each payment. When extra payments are applied to principal, the balance can fall faster than the original schedule.

Why export the schedule

A full schedule can include hundreds of rows. Exporting to CSV makes it easier to filter, compare, and save different scenarios, especially when reviewing a mortgage or long-term education loan.