Amortization Schedule

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

Total Payments
$126,018.96
Total Interest
$8,018.96
Number of Monthly Payments
15
Monthly Payment
$8,401.26
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$118,000.00$983.33$7,417.93$110,582.07$983.33$8,401.26
2$110,582.07$921.52$7,479.75$103,102.32$1,904.85$16,802.53
3$103,102.32$859.19$7,542.08$95,560.25$2,764.04$25,203.79
4$95,560.25$796.34$7,604.93$87,955.32$3,560.37$33,605.06
5$87,955.32$732.96$7,668.30$80,287.01$4,293.33$42,006.32
6$80,287.01$669.06$7,732.21$72,554.81$4,962.39$50,407.58
7$72,554.81$604.62$7,796.64$64,758.17$5,567.01$58,808.85
8$64,758.17$539.65$7,861.61$56,896.56$6,106.67$67,210.11
9$56,896.56$474.14$7,927.13$48,969.43$6,580.80$75,611.37
10$48,969.43$408.08$7,993.19$40,976.25$6,988.88$84,012.64
11$40,976.25$341.47$8,059.80$32,916.45$7,330.35$92,413.90
12$32,916.45$274.30$8,126.96$24,789.49$7,604.66$100,815.17
13$24,789.49$206.58$8,194.68$16,594.81$7,811.23$109,216.43
14$16,594.81$138.29$8,262.97$8,331.83$7,949.52$117,617.69
15$8,331.83$69.43$8,331.83$-0.00$8,018.96$126,018.96