Amortization Schedule

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

Total Payments
$121.50
Total Interest
$1.50
Number of Monthly Payments
5
Monthly Payment
$24.30
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$120.00$0.50$23.80$96.20$0.50$24.30
2$96.20$0.40$23.90$72.30$0.90$48.60
3$72.30$0.30$24.00$48.30$1.20$72.90
4$48.30$0.20$24.10$24.20$1.40$97.20
5$24.20$0.10$24.20$-0.00$1.50$121.50