Amortization Schedule

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

Total Payments
$4,408.40
Total Interest
$3,408.40
Number of Monthly Payments
9
Monthly Payment
$489.82
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$475.00$14.82$985.18$475.00$489.82
2$985.18$467.96$21.86$963.32$942.96$979.64
3$963.32$457.57$32.25$931.07$1,400.53$1,469.47
4$931.07$442.26$47.56$883.50$1,842.79$1,959.29
5$883.50$419.66$70.16$813.34$2,262.46$2,449.11
6$813.34$386.34$103.48$709.86$2,648.79$2,938.93
7$709.86$337.18$152.64$557.22$2,985.98$3,428.75
8$557.22$264.68$225.14$332.08$3,250.66$3,918.58
9$332.08$157.74$332.08$0.00$3,408.40$4,408.40