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 Number
Beginning Balance
Interest Payment
Principal Payment
Ending Balance
Cumulative Interest
Cumulative 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