| Amortization Schedule | |||||
| Principal | $15,000.00 | ||||
| Rate per Period | 6% | ||||
| Number of Periods | 8 | ||||
| a_n[i | 6.21 | ||||
| Payment # | Amount | Interest | Principal | Balance | |
| 0 | 0 | 0 | 0 | $15,000.00 | |
| 1 | $2,415.54 | $ 900.00 | $1,515.54 | $13,484.46 | |
| 2 | $2,415.54 | $ 809.07 | $1,606.47 | $11,877.99 | |
| 3 | $2,415.54 | $ 712.68 | $1,702.86 | $10,175.13 | |
| 4 | $2,415.54 | $ 610.51 | $1,805.03 | $ 8,370.10 | |
| 5 | $2,415.54 | $ 502.21 | $1,913.33 | $ 6,456.76 | |
| 6 | $2,415.54 | $ 387.41 | $2,028.13 | $ 4,428.63 | |
| 7 | $2,415.54 | $ 265.72 | $2,149.82 | $ 2,278.81 | |
| 8 | $2,415.54 | $ 136.73 | $2,278.81 | $ 0.00 | |