$300,000.00 Amortization Schedule at 8% for 30 Years
A $300,000.00 loan at 8% interest over 30 years requires a monthly payment of $2,201.29. You'll pay $492,464.40 in total interest.
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Amortization Schedule
| Month | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Feb 2026 | $2,201.29 | $201.29 | $2,000.00 | $299,798.71 |
| 2 | Mar 2026 | $2,201.29 | $202.63 | $1,998.66 | $299,596.08 |
| 3 | Apr 2026 | $2,201.29 | $203.98 | $1,997.31 | $299,392.10 |
| 4 | May 2026 | $2,201.29 | $205.34 | $1,995.95 | $299,186.75 |
| 5 | Jun 2026 | $2,201.29 | $206.71 | $1,994.58 | $298,980.04 |
| 6 | Jul 2026 | $2,201.29 | $208.09 | $1,993.20 | $298,771.95 |
| 7 | Aug 2026 | $2,201.29 | $209.48 | $1,991.81 | $298,562.47 |
| 8 | Sep 2026 | $2,201.29 | $210.87 | $1,990.42 | $298,351.60 |
| 9 | Oct 2026 | $2,201.29 | $212.28 | $1,989.01 | $298,139.32 |
| 10 | Nov 2026 | $2,201.29 | $213.69 | $1,987.60 | $297,925.63 |
| 11 | Dec 2026 | $2,201.29 | $215.12 | $1,986.17 | $297,710.51 |
| 12 | Jan 2027 | $2,201.29 | $216.55 | $1,984.74 | $297,493.95 |
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Understanding Your Payment
Your $300,000 loan payment is calculated using the standard amortization formula. At 8% interest over 30 years, you'll make 360 monthly payments of $2,201.29.
Payment breakdown: Each month, your payment is divided between principal (reducing your balance) and interest (the cost of borrowing). Initially, most goes to interest. Over time, more goes toward principal as your balance decreases.
Rate sensitivity: At 8%, you're initially paying about $2000 in interest each month. Even small rate changes significantly impact your total interest paid.
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Frequently Asked Questions
The monthly payment on a $300,000 personal loan at 8% interest over 30 years is calculated using the standard amortization formula. Use the calculator above to see your exact monthly payment amount.
Calculation Methodology
Formula: Standard amortization formula M = P × [r(1+r)^n] / [(1+r)^n - 1], where M = monthly payment, P = principal, r = monthly rate, n = number of payments.
Assumptions: Fixed 8% rate, monthly compounding, 360 payments. Does not include fees, insurance, or other charges.
Accuracy: Results rounded to nearest cent. This is informational only and not financial advice. Actual terms vary by lender.
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