Amortization Schedule
Amount of Loan
Annual Interest Rate (in percent)
Length of Loan (in months)
Total Payments
$1,024.06
Total Interest
$24.06
Number of Monthly Payments
2
Monthly Payment
$512.03
Payment Number
Beginning Balance
Interest Payment
Principal Payment
Ending Balance
Cumulative Interest
Cumulative Payments
1
$1,000.00
$16.00
$496.03
$503.97
$16.00
$512.03
2
$503.97
$8.06
$503.97
$0.00
$24.06
$1,024.06