Amortization Schedule

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

Total Payments
$2,723.25
Total Interest
$223.25
Number of Monthly Payments
6
Monthly Payment
$453.87
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$2,500.00$62.50$391.37$2,108.63$62.50$453.87
2$2,108.63$52.72$401.16$1,707.47$115.22$907.75
3$1,707.47$42.69$411.19$1,296.28$157.90$1,361.62
4$1,296.28$32.41$421.47$874.81$190.31$1,815.50
5$874.81$21.87$432.00$442.80$212.18$2,269.37
6$442.80$11.07$442.80$-0.00$223.25$2,723.25