Amortization Schedule

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

Total Payments
$1,006.25
Total Interest
$6.25
Number of Monthly Payments
2
Monthly Payment
$503.13
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$4.17$498.96$501.04$4.17$503.13
2$501.04$2.09$501.04$-0.00$6.25$1,006.25