Amortization Schedule

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

Total Payments
$12,242.30
Total Interest
$242.30
Number of Monthly Payments
6
Monthly Payment
$2,040.38
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$12,000.00$68.90$1,971.48$10,028.52$68.90$2,040.38
2$10,028.52$57.58$1,982.80$8,045.71$126.48$4,080.77
3$8,045.71$46.20$1,994.19$6,051.53$172.68$6,121.15
4$6,051.53$34.75$2,005.64$4,045.89$207.42$8,161.53
5$4,045.89$23.23$2,017.15$2,028.74$230.65$10,201.92
6$2,028.74$11.65$2,028.74$0.00$242.30$12,242.30