Amortization Schedule

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

Total Payments
$1,221.01
Total Interest
$171.01
Number of Monthly Payments
5
Monthly Payment
$244.20
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$1,050.00$55.13$189.08$860.92$55.13$244.20
2$860.92$45.20$199.00$661.92$100.32$488.40
3$661.92$34.75$209.45$452.47$135.07$732.61
4$452.47$23.75$220.45$232.02$158.83$976.81
5$232.02$12.18$232.02$0.00$171.01$1,221.01