Amortization Schedule

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

Total Payments
$531.56
Total Interest
$43.56
Number of Monthly Payments
6
Monthly Payment
$88.59
Payment NumberBeginning BalanceInterest PaymentPrincipal PaymentEnding BalanceCumulative InterestCumulative Payments
1$488.00$12.20$76.40$411.60$12.20$88.59
2$411.60$10.29$78.31$333.29$22.48$177.19
3$333.29$8.33$80.26$253.03$30.81$265.78
4$253.03$6.32$82.27$170.76$37.14$354.38
5$170.76$4.27$84.33$86.43$41.40$442.97
6$86.43$2.16$86.43$0.00$43.56$531.56