How to Read a Loan Amortization Table

Photo Courtesy: Ariel Skelley/Getty Images

If you want to keep up with loan payments, particularly when it comes to a fixed-interest loan, using an amortization table can be incredibly helpful. Not only can a loan amortization table help you keep up with your monthly payments, but it’s also great for understanding your interest costs as the loan balance decreases. Not familiar with how an amortization table works? Don’t worry — we’ll walk you through how to make, read, and use one.