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3-Year Loan Amortization Plan

The document provides a loan amortization schedule for a $500,000 loan with an annual interest rate of 8.50% over a term of 3 years, resulting in total payments of $568,215.66 and total interest of $68,215.66. Monthly payments are set at $15,783.77, with detailed breakdowns of interest and principal for each payment period. The schedule outlines the remaining balance after each payment, illustrating the loan repayment process.

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MPDO Manticao
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43 views8 pages

3-Year Loan Amortization Plan

The document provides a loan amortization schedule for a $500,000 loan with an annual interest rate of 8.50% over a term of 3 years, resulting in total payments of $568,215.66 and total interest of $68,215.66. Monthly payments are set at $15,783.77, with detailed breakdowns of interest and principal for each payment period. The schedule outlines the remaining balance after each payment, illustrating the loan repayment process.

Uploaded by

MPDO Manticao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 8

Page 1 of 8

Loan Amortization Schedule


HELP © 2008 Vertex42 LLC

Loan Information Summary


Loan Amount 500,000.00 Rate (per period) 0.708%
Annual Interest Rate 8.50% Number of Payments 36
Term of Loan in Years 3 Total Payments 568,215.66
First Payment Date 10/1/2015 Total Interest 68,215.66
Payment Frequency Monthly Est. Interest Savings 0.01
Compound Period Monthly .
Payment Type End of Period .

Monthly Payment 15,783.77


[42]

Amortization Schedule ✘ RoundingTRUE


On
Additional
No. Due Date Payment Payment Interest Principal Balance
500,000.00
1 10/1/15 15,783.77 3,541.67 12,242.10 487,757.90
2 11/1/15 15,783.77 3,454.95 12,328.82 475,429.08
3 12/1/15 15,783.77 3,367.62 12,416.15 463,012.93
4 1/1/16 15,783.77 3,279.67 12,504.10 450,508.83
5 2/1/16 15,783.77 3,191.10 12,592.67 437,916.16
6 3/1/16 15,783.77 3,101.91 12,681.86 425,234.30
7 4/1/16 15,783.77 3,012.08 12,771.69 412,462.61
8 5/1/16 15,783.77 2,921.61 12,862.16 399,600.45
9 6/1/16 15,783.77 2,830.50 12,953.27 386,647.18
10 7/1/16 15,783.77 2,738.75 13,045.02 373,602.16
11 8/1/16 15,783.77 2,646.35 13,137.42 360,464.74
12 9/1/16 15,783.77 2,553.29 13,230.48 347,234.26
13 10/1/16 15,783.77 2,459.58 13,324.19 333,910.07
14 11/1/16 15,783.77 2,365.20 13,418.57 320,491.50
15 12/1/16 15,783.77 2,270.15 13,513.62 306,977.88
16 1/1/17 15,783.77 2,174.43 13,609.34 293,368.54
17 2/1/17 15,783.77 2,078.03 13,705.74 279,662.80
18 3/1/17 15,783.77 1,980.94 13,802.83 265,859.97
19 4/1/17 15,783.77 1,883.17 13,900.60 251,959.37
20 5/1/17 15,783.77 1,784.71 13,999.06 237,960.31
21 6/1/17 15,783.77 1,685.55 14,098.22 223,862.09
22 7/1/17 15,783.77 1,585.69 14,198.08 209,664.01
23 8/1/17 15,783.77 1,485.12 14,298.65 195,365.36
24 9/1/17 15,783.77 1,383.84 14,399.93 180,965.43
25 10/1/17 15,783.77 1,281.84 14,501.93 166,463.50
26 11/1/17 15,783.77 1,179.12 14,604.65 151,858.85
27 12/1/17 15,783.77 1,075.67 14,708.10 137,150.75
28 1/1/18 15,783.77 971.48 14,812.29 122,338.46
29 2/1/18 15,783.77 866.56 14,917.21 107,421.25
30 3/1/18 15,783.77 760.90 15,022.87 92,398.38
31 4/1/18 15,783.77 654.49 15,129.28 77,269.10
32 5/1/18 15,783.77 547.32 15,236.45 62,032.65
33 6/1/18 15,783.77 439.40 15,344.37 46,688.28
34 7/1/18 15,783.77 330.71 15,453.06 31,235.22
35 8/1/18 15,783.77 221.25 15,562.52 15,672.70
Page 2 of 8
✘ Rounding On
Additional
No. Due Date Payment Payment Interest Principal Balance
36 9/1/18 15,783.71 111.01 15,672.70 0.00
Page 3 of 8
✘ Rounding On
Additional
No. Due Date Payment Payment Interest Principal Balance
Page 4 of 8
✘ Rounding On
Additional
No. Due Date Payment Payment Interest Principal Balance
Page 5 of 8

Loan Payment Schedule


HELP © 2008 Vertex42 LLC

Loan Amount $ 500,000 Recording


Recording ActualActual Payments
Payments
Annual Interest Rate 8.50% This
This spreadsheetprovides
spreadsheet providesan analternate
alternate
Compound Period Monthly way
way to record payments, assumingthe
to record payments, assuming the
same
sameloanloaninformation
informationas asininthe
theSchedule
Schedule
Term of Loan in Years 3
First Payment Date 10/1/2015
worksheet.
worksheet.The Theactual
actualpayment
paymentisis
recorded
recorded each pay period.Any
each pay period. Anyamount
amount
Payment Frequency Monthly above payment due
above the payment due isused
the is usedto topay
pay
Payment Type End of Period off the principal. If no payment is
off the principal. If no payment is made, made,
Number of Payments 36 theinterest
the interestduedueisisadded
addedto tothe
thebalance
balance
Rate (per period) 0.708% (i.e.
(i.e.negative
negativeamortization).
amortization).This Thisassumes
assumes
Payment (per period) 15,783.77 there
thereare
arenonopenalties
penaltiesfor forlate
latepayments,
payments,
missing
missingpayments,
payments,or orprepayments,
prepayments,and and
that
thatprepayments
prepaymentsgo gointo
intoeffect
effecton onthe
thedue
due
Total Payments $ 571,962.14 date.
date.
Total Interest $ 71,962.14
Est. Interest Savings $ (3,746.47)
.
Payment Schedule [42]

Payment
No. Due Date Due Payment Interest Principal Balance
500,000.00
1 10/1/15 15,783.77 15,783.77 3,541.67 12,242.10 487,757.90
2 11/1/15 15,783.77 15,783.77 3,454.95 12,328.82 475,429.08
3 12/1/15 15,783.77 1,500.00 3,367.62 -1,867.62 477,296.70
4 1/1/16 15,783.77 15,783.77 3,380.85 12,402.92 464,893.78
5 2/1/16 15,783.77 15,783.77 Enter 3,293.00 12,490.77 452,403.01
Enterthe
theamount
amount
6 3/1/16 15,783.77 15,783.77 paid
paidin
inthis
thiscolumn
3,204.52column 12,579.25 439,823.76
(principal+interest
(principal+interest
7 4/1/16 15,783.77 15,783.77 )) 3,115.42 12,668.35 427,155.41
8 5/1/16 15,783.77 15,783.77 3,025.68 12,758.09 414,397.32
9 6/1/16 15,783.77 15,783.77 2,935.31 12,848.46 401,548.86
10 7/1/16 15,783.77 15,783.77 2,844.30 12,939.47 388,609.39
11 8/1/16 15,783.77 15,783.77 2,752.65 13,031.12 375,578.27
12 9/1/16 15,783.77 15,783.77 2,660.35 13,123.42 362,454.85
13 10/1/16 15,783.77 15,783.77 2,567.39 13,216.38 349,238.47
14 11/1/16 15,783.77 15,783.77 2,473.77 13,310.00 335,928.47
15 12/1/16 15,783.77 15,783.77 2,379.49 13,404.28 322,524.19
16 1/1/17 15,783.77 15,783.77 2,284.55 13,499.22 309,024.97
17 2/1/17 15,783.77 15,783.77 2,188.93 13,594.84 295,430.13
18 3/1/17 15,783.77 15,783.77 2,092.63 13,691.14 281,738.99
19 4/1/17 15,783.77 15,783.77 1,995.65 13,788.12 267,950.87
20 5/1/17 15,783.77 15,783.77 1,897.99 13,885.78 254,065.09
21 6/1/17 15,783.77 15,783.77 1,799.63 13,984.14 240,080.95
22 7/1/17 15,783.77 15,783.77 1,700.57 14,083.20 225,997.75
23 8/1/17 15,783.77 15,783.77 1,600.82 14,182.95 211,814.80
24 9/1/17 15,783.77 15,783.77 1,500.35 14,283.42 197,531.38
25 10/1/17 15,783.77 15,783.77 1,399.18 14,384.59 183,146.79
26 11/1/17 15,783.77 15,783.77 1,297.29 14,486.48 168,660.31
27 12/1/17 15,783.77 15,783.77 1,194.68 14,589.09 154,071.22
28 1/1/18 15,783.77 15,783.77 1,091.34 14,692.43 139,378.79
29 2/1/18 15,783.77 15,783.77 987.27 14,796.50 124,582.29
30 3/1/18 15,783.77 15,783.77 882.46 14,901.31 109,680.98
31 4/1/18 15,783.77 15,783.77 776.91 15,006.86 94,674.12
32 5/1/18 15,783.77 15,783.77 670.61 15,113.16 79,560.96
Page 6 of 8

Payment
No. Due Date Due Payment Interest Principal Balance
33 6/1/18 15,783.77 15,783.77 563.56 15,220.21 64,340.75
34 7/1/18 15,783.77 15,783.77 455.75 15,328.02 49,012.73
35 8/1/18 15,783.77 15,783.77 347.17 15,436.60 33,576.13
36 9/1/18 33,813.96 33,813.96 237.83 33,576.13 0.00
Page 7 of 8

Payment
No. Due Date Due Payment Interest Principal Balance
Page 8 of 8

Payment
No. Due Date Due Payment Interest Principal Balance

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