Amortization Schedule

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

Total Payments
$1,229.78
Total Interest
$229.78
Number of Monthly Payments
6
Monthly Payment
$204.96
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$62.50$142.46$857.54$62.50$204.96
2$857.54$53.60$151.37$706.17$116.10$409.93
3$706.17$44.14$160.83$545.34$160.23$614.89
4$545.34$34.08$170.88$374.46$194.32$819.85
5$374.46$23.40$181.56$192.91$217.72$1,024.81
6$192.91$12.06$192.91$-0.00$229.78$1,229.78