Amortization Schedule

Amount of Loan
Annual Interest Rate (in percent)
Length of Loan (in months)

Total Payments
$8,836.68
Total Interest
$6,961.68
Number of Monthly Payments
7
Monthly Payment
$1,262.38
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,875.00$1,225.00$37.38$1,837.62$1,225.00$1,262.38
2$1,837.62$1,200.58$61.81$1,775.81$2,425.58$2,524.76
3$1,775.81$1,160.20$102.19$1,673.63$3,585.77$3,787.15
4$1,673.63$1,093.44$168.95$1,504.68$4,679.21$5,049.53
5$1,504.68$983.06$279.32$1,225.35$5,662.27$6,311.91
6$1,225.35$800.57$461.82$763.54$6,462.83$7,574.29
7$763.54$498.84$763.54$0.00$6,961.68$8,836.68