Amortization Schedule

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

Total Payments
$1,009.31
Total Interest
$9.31
Number of Monthly Payments
2
Monthly Payment
$504.65
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$6.20$498.45$501.55$6.20$504.65
2$501.55$3.11$501.55$-0.00$9.31$1,009.31