Amortization schedule

An amortization schedule is a detailed table that shows how your loan is paid off over time. It breaks down each payment into two parts: the interest (cost of borrowing) and the principal (the original loan amount). Initially, more of your payment goes toward interest, but over time, more reduces the principal. The schedule helps you see how much you owe at any point and when your loan will be fully paid off, providing clarity and helping with financial planning.