Amortization Calculator
Compare PRICE and SAC amortization systems to understand your payment schedule and choose the best option for your loan.
Loan Details
Fixed Payment
Loan Summary
System Information
Fixed monthly payments of $2,306.74 for 360 months. Early payments are mostly interest, with principal increasing over time.
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How It Works
An amortization calculator shows you exactly how your loan payments are structured over time. There are two main systems: PRICE (fixed payments) and SAC (decreasing payments). Understanding these systems helps you choose the best financing option for your situation.
The PRICE system maintains fixed monthly payments throughout the loan term. Early payments consist mostly of interest, with principal increasing over time. The SAC system has fixed principal payments with decreasing interest, resulting in higher initial payments that decrease over time.
SAC typically results in lower total interest paid but requires higher initial payments. PRICE offers payment predictability but costs more in total interest. This calculator helps you visualize both options and make an informed decision.
Practical Examples
Example: $300,000 Loan at 8.5% (30 years)
- • Fixed Payment: $2,307/month
- • Total Interest: $530,520
- • Total Paid: $830,520
- • First Payment: $2,958/month
- • Last Payment: $844/month
- • Total Interest: $383,625
- • Total Paid: $683,625
Frequently Asked Questions
Choose SAC for Savings: If you can handle higher initial payments, SAC saves significant money on interest.
Choose PRICE for Stability: Fixed payments make budgeting easier and protect against income fluctuations.
Consider Your Cash Flow: SAC requires higher initial payments but frees up money later in the loan term.
Interest Rate Impact: Higher interest rates make the difference between systems more significant.