Amortization Schedule

Sam · Posted: Tue Mar 30, 2004 6:02 am Post subject: Amortization Schedule

Amortization Schedule is a schedule prepared for the payment of a mortgage loan. It is a detailed timetable showing-

The beginning principal amount.
Period payments.
Amount of each interest and principal payment.
The remaining last balance.

For example, Shawn has taken a loan of $ 50,000 at an interest of 7.5% per annum for the period of 1 years and 3 months. So, his monthly installment comes to $ 3502.42.

Payment No.	Date	Principal Paid	Interest Paid	Amount Balance
01.	2005-08-01	3189.92	312.50	46497.58
02.	2005-09-01	3211.81	290.61	42995.15
03.	2005-10-01	3233.70	268.72	39492.72
04.	2005-11-01	3255.59	246.83	35990.31
05.	2005-12-01	3277.48	224.94	32487.89
06.	2006-01-01	3299.37	203.05	28985.46
07.	2006-02-01	3321.26	181.16	25483.04
08.	2006-03-01	3343.15	159.27	21980.62
09.	2006-04-01	3365.04	137.38	18478.20
10.	2006-05-01	3386.93	115.49	14975.77
11.	2006-06-01	3408.82	93.60	11473.35
12.	2006-07-01	3430.71	71.71	7970.93
13.	2006-08-01	3452.60	49.82	4468.51
14.	2006-09-01	3474.49	27.93	966.08
15.	2006-10-01	3496.38	6.04	Paid

Calculate it yourself

Amortization Calculator

Guest 0.10 Dollars($)

How is annual interest calculated on a loan

colin · Posted: Thu Aug 24, 2006 11:14 am Post subject:

Hi,

Can you provide some more details, so that the answer can be more specific.

Thanks

sara · Posted: Fri Aug 25, 2006 12:00 am Post subject: RE:

Hi Jeanne,

The annual interest rate is calculated by considering the factors given in http://www.mortgagefit.com/rate-calculated.html .

Thanks,

Sara.

helping_user · Posted: Fri Aug 25, 2006 2:00 am Post subject:

Hi Jeanne,

The annual interest on a loan is calculated compoundly.

To calculate the amount, always we are applying the formula

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