Amortization Schedule

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

Total Payments
$1,489.64
Total Interest
$489.64
Number of Monthly Payments
3
Monthly Payment
$496.55
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$229.17$267.38$732.62$229.17$496.55
2$732.62$167.89$328.65$403.97$397.06$993.09
3$403.97$92.58$403.97$0.00$489.64$1,489.64