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Sample Amortization Schedules
Loan Amount: $10,000 | Term of the Loan: 5 years | Interest Rate: 10%
Calculation Results:
Monthly loan payments: $212.47
Total interest paid over the life of the loan: $2,748.23
Year Loan Balance Yearly Interest Paid Yearly Principal Paid Total Interest
2001 8,377.32 926.96 1,622.68 926.96
2002 6,584.72 757.05 1,792.60 1,684.01
2003 4,604.42 569.34 1,980.31 2,253.35
2004 2,416.75 361.98 2,187.67 2,615.33
2005 0.00 132.90 2,416.75 2,748.23
Loan Amount: $10,000 | Term of the Loan: 5 years | Interest Rate: 25%
Calculation Results:
Monthly loan payments: $293.51
Total interest paid over the life of the loan: $7,610.79
Year Loan Balance Yearly Interest Paid Yearly Principal Paid Total Interest
2001 8,852.19 2,374.35 1,147.81 2,374.35
2002 7,382.16 2,052.12 1,470.04 4,426.47
2003 5,499.44 1,639.44 1,882.72 6,065.91
2004 3,088.18 1,110.90 2,411.26 7,176.81
2005 0.00 433.98 3,088.18 7,610.79
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The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed. | Henry Ford