Amortization Schedule

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

Total Payments
$1,056.74
Total Interest
$56.74
Number of Monthly Payments
6
Monthly Payment
$176.12
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$16.00$160.12$839.88$16.00$176.12
2$839.88$13.44$162.69$677.19$29.44$352.25
3$677.19$10.84$165.29$511.90$40.27$528.37
4$511.90$8.19$167.93$343.97$48.46$704.49
5$343.97$5.50$170.62$173.35$53.97$880.62
6$173.35$2.77$173.35$0.00$56.74$1,056.74