This is a simple calculator that shows you the balance of your loan over the length of the loan. It also shows you what amount of your payment is interest,and what amount is being applied to the principal. The difference between the payment amount and the interest amount, is the figure being applied to the principal. As you can see, in the beginning more of your payment is used towards paying the interest of the loan then paying off the balance. View the Bi-Weekly calculator to see how making payments every 2 weeks instead of every month can save you thousands of dollars or take years off the term of the loan.