Amortization Schedule

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

Total Payments
$6,007.56
Total Interest
$5,007.56
Number of Monthly Payments
12
Monthly Payment
$500.63
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$496.67$3.96$996.04$496.67$500.63
2$996.04$494.70$5.93$990.11$991.37$1,001.26
3$990.11$491.75$8.88$981.23$1,483.12$1,501.89
4$981.23$487.34$13.29$967.94$1,970.46$2,002.52
5$967.94$480.75$19.88$948.06$2,451.21$2,503.15
6$948.06$470.87$29.76$918.30$2,922.08$3,003.78
7$918.30$456.09$44.54$873.76$3,378.16$3,504.41
8$873.76$433.97$66.66$807.09$3,812.13$4,005.04
9$807.09$400.86$99.77$707.32$4,212.98$4,505.67
10$707.32$351.30$149.33$557.99$4,564.29$5,006.30
11$557.99$277.14$223.49$334.50$4,841.42$5,506.93
12$334.50$166.13$334.50$-0.00$5,007.56$6,007.56