Amortization Schedule

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

Total Payments
$1,040.00
Total Interest
$40.00
Number of Monthly Payments
9
Monthly Payment
$115.56
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$7.92$107.64$892.36$7.92$115.56
2$892.36$7.06$108.49$783.87$14.98$231.11
3$783.87$6.21$109.35$674.52$21.19$346.67
4$674.52$5.34$110.22$564.30$26.53$462.22
5$564.30$4.47$111.09$453.22$30.99$577.78
6$453.22$3.59$111.97$341.25$34.58$693.33
7$341.25$2.70$112.85$228.40$37.28$808.89
8$228.40$1.81$113.75$114.65$39.09$924.44
9$114.65$0.91$114.65$-0.00$40.00$1,040.00