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    Loan Amortization Schedule1

    Uploaded by

    royabcd43
    This loan amortization schedule summarizes a $5,000 loan from Woodgrove Bank with an annual interest rate of 4% to be repaid over 1 year in 12 monthly payments. The borrower will make optional extra payments of $100 per month, reducing the total interest to $89.62 and paying off the loan after 10 payments rather than the scheduled 12 payments.

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    Loan Amortization Schedule1

    Uploaded by

    royabcd43
    20 views1 page
    This loan amortization schedule summarizes a $5,000 loan from Woodgrove Bank with an annual interest rate of 4% to be repaid over 1 year in 12 monthly payments. The borrower will make optional extra payments of $100 per month, reducing the total interest to $89.62 and paying off the loan after 10 payments rather than the scheduled 12 payments.

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    This loan amortization schedule summarizes a $5,000 loan from Woodgrove Bank with an annual interest rate of 4% to be repaid over 1 year in 12 monthly payments. The borrower will make optional extra payments of $100 per month, reducing the total interest to $89.62 and paying off the loan after 10 payments rather than the scheduled 12 payments.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    20 views1 page

    Loan Amortization Schedule1

    Uploaded by

    royabcd43
    This loan amortization schedule summarizes a $5,000 loan from Woodgrove Bank with an annual interest rate of 4% to be repaid over 1 year in 12 monthly payments. The borrower will make optional extra payments of $100 per month, reducing the total interest to $89.62 and paying off the loan after 10 payments rather than the scheduled 12 payments.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    Loan Amortization Schedule

    Enter Values Loan Summary


    Loan amount $5,000.00 Scheduled payment $425.75

    Annual interest rate 4.00% Scheduled number of payments 12

    Loan period in years 1 Actual number of payments

    Number of payments per year 12 Total early payments $900.00

    Start date of loan 11/10/2023 Total interest $89.62

    Optional extra payments $100.00 Lender name Woodgrove Bank

    Payment Payment Beginning Scheduled Extra Total Principal Interest Ending Cumulative
    Number Date Balance Payment Payment Payment Balance Interest

    1 11/10/2023 $5,000.00 $425.75 $100.00 $525.75 $509.08 $16.67 $4,490.92 $16.67

    2 12/10/2023 $4,490.92 $425.75 $100.00 $525.75 $510.78 $14.97 $3,980.14 $31.64

    3 1/10/2024 $3,980.14 $425.75 $100.00 $525.75 $512.48 $13.27 $3,467.65 $44.90

    4 2/10/2024 $3,467.65 $425.75 $100.00 $525.75 $514.19 $11.56 $2,953.46 $56.46

    5 3/10/2024 $2,953.46 $425.75 $100.00 $525.75 $515.90 $9.84 $2,437.56 $66.31

    6 4/10/2024 $2,437.56 $425.75 $100.00 $525.75 $517.62 $8.13 $1,919.94 $74.43

    7 5/10/2024 $1,919.94 $425.75 $100.00 $525.75 $519.35 $6.40 $1,400.59 $80.83

    8 6/10/2024 $1,400.59 $425.75 $100.00 $525.75 $521.08 $4.67 $879.50 $85.50

    9 7/10/2024 $879.50 $425.75 $100.00 $525.75 $522.82 $2.93 $356.69 $88.43

    10 8/10/2024 $356.69 $425.75 $0.00 $356.69 $355.50 $1.19 $0.00 $89.62

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