Amortization Schedule

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

Total Payments
$1,012.44
Total Interest
$12.44
Number of Monthly Payments
2
Monthly Payment
$506.22
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,000.00$8.28$497.94$502.06$8.28$506.22
2$502.06$4.16$502.06$0.00$12.44$1,012.44