# Amortization schedule

## Description

An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. An amortization schedule is typically worked out taking the principal left at the end of each month, multiplying by the monthly rate and then subtracting the monthly payment.

Related formulas## Variables

A | The periodic amortization payment (dimensionless) |

P | The principal amount borrowed (dimensionless) |

r | The percentage rate per period divided by 100 (dimensionless) |

n | The number of payments (dimensionless) |