Amortization Schedule

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

Total Payments
$1,001.56
Total Interest
$1.56
Number of Monthly Payments
2
Monthly Payment
$500.78
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$1.04$499.74$500.26$1.04$500.78
2$500.26$0.52$500.26$-0.00$1.56$1,001.56