Amortization Schedule

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

Total Payments
$1,010.01
Total Interest
$10.01
Number of Monthly Payments
2
Monthly Payment
$505.01
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$6.67$498.34$501.66$6.67$505.01
2$501.66$3.34$501.66$-0.00$10.01$1,010.01