Amortization Schedule

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

Total Payments
$1,003.63
Total Interest
$3.63
Number of Monthly Payments
2
Monthly Payment
$501.81
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$2.42$499.40$500.60$2.42$501.81
2$500.60$1.21$500.60$0.00$3.63$1,003.63