Amortization Schedule

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

Total Payments
$3,494.73
Total Interest
$994.73
Number of Monthly Payments
6
Monthly Payment
$582.45
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$2,500.00$262.50$319.95$2,180.05$262.50$582.45
2$2,180.05$228.90$353.55$1,826.50$491.40$1,164.91
3$1,826.50$191.78$390.67$1,435.82$683.19$1,747.36
4$1,435.82$150.76$431.69$1,004.13$833.95$2,329.82
5$1,004.13$105.43$477.02$527.11$939.38$2,912.27
6$527.11$55.35$527.11$-0.00$994.73$3,494.73