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It looks like you’ve provided an image of an Amortization Schedule Calculator interface, along with extensive text explaining what an amortization schedule is, how it works, and how to use tools and formulas related to it.

Here is a summary of the key information from the text:

Amortization Schedule:

An amortization schedule is a table that shows how a loan is paid off over time, detailing the breakdown of each payment into principal and interest, and the remaining balance.

Understanding Your Payments

• How it Works: In the early stages of a loan, a larger portion of your payment goes towards interest. Over time, the interest portion decreases, and the principal portion increases, allowing the loan balance to drop faster later on.
• Monthly Payment Formula: M=P×(1+i)n−1i(1+i)n​ Where M is the monthly payment, P is the loan amount, i is the monthly interest rate, and n is the total number of payments.

Using Tools & Strategies

• Calculators (like the one in the image): These allow you to skip the math by inputting the Loan Amount, Annual Interest Rate (%), and Loan Term (Years) to instantly generate the schedule and monthly payment.
• Excel/Sheets: You can create your own schedule using the PMT formula: =PMT(rate, nper, -loan_amount) and supporting formulas for interest, principal, and balance.
• The Power of Extra Payments: Making additional payments specifically toward the principal can:
  • Shorten your loan term (e.g., cut 5+ years off a 30-year mortgage).
  • Save thousands in interest (e.g., save over $30,000).
• Biweekly Payments Hack: Switching from 12 monthly payments to 26 biweekly payments per year effectively adds one extra monthly payment annually, helping to pay off a mortgage 4–5 years early and save significant interest.