Loan Amortization Schedule - First 20 Years

This calculates the payments for the first 20 years of a real estate mortgage. For interest, enter the interest per year.

Use no percentage or dollar characters.

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Example

You need to do the amortization on a 20-year mortgage at 6.125% onterest in the amount of $343,000 with monthly payments.

Payments per year = 12
Number of years = 20
Interest = 6.125
Loan Amount= 343000

What are the interest and principal paid for the fifth month?

$1,735.68 interest and $746.48 principal