Amortization Schedule

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

Total Payments
$1,037.87
Total Interest
$37.87
Number of Monthly Payments
9
Monthly Payment
$115.32
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$7.50$107.82$892.18$7.50$115.32
2$892.18$6.69$108.63$783.55$14.19$230.64
3$783.55$5.88$109.44$674.11$20.07$345.96
4$674.11$5.06$110.26$563.85$25.12$461.28
5$563.85$4.23$111.09$452.76$29.35$576.60
6$452.76$3.40$111.92$340.83$32.75$691.92
7$340.83$2.56$112.76$228.07$35.30$807.24
8$228.07$1.71$113.61$114.46$37.02$922.55
9$114.46$0.86$114.46$0.00$37.87$1,037.87