| Balloon Payment Loan Calculator |
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© 2005 Vertex42 LLC |
v. 1.3 |
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| Download from Vertex42.com |
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Inputs |
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Assumptions |
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* Interest compounds monthly |
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Loan Amount |
$10,000 |
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* Payments made at end of month |
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Annual Interest Rate |
3.00% |
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* Balloon amount paid a month after the |
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Amortization Period |
36 |
months |
last regular monthly payment |
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# of Regular Payments |
12 |
months |
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Begin Date |
12/1/2005 |
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Summary |
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Monthly Payment |
$290.81 |
FALSE |
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Balloon Payment |
$6,782.89 |
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Balloon Payment w/Rounding |
$6,782.98 |
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Total Payments |
$10,272.70 |
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Total Interest Paid |
$272.70 |
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Amortization Schedule |
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Month |
Date |
Payment |
Interest |
Principal |
Balance |
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12/1/2005 |
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$10,000.00 |
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1 |
1/1/2006 |
290.81 |
25.00 |
265.81 |
9,734.19 |
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2 |
2/1/2006 |
290.81 |
24.34 |
266.47 |
9,467.72 |
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3 |
3/1/2006 |
290.81 |
23.67 |
267.14 |
9,200.58 |
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4 |
4/1/2006 |
290.81 |
23.00 |
267.81 |
8,932.77 |
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5 |
5/1/2006 |
290.81 |
22.33 |
268.48 |
8,664.29 |
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6 |
6/1/2006 |
290.81 |
21.66 |
269.15 |
8,395.14 |
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7 |
7/1/2006 |
290.81 |
20.99 |
269.82 |
8,125.32 |
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8 |
8/1/2006 |
290.81 |
20.31 |
270.50 |
7,854.82 |
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9 |
9/1/2006 |
290.81 |
19.64 |
271.17 |
7,583.65 |
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10 |
10/1/2006 |
290.81 |
18.96 |
271.85 |
7,311.80 |
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11 |
11/1/2006 |
290.81 |
18.28 |
272.53 |
7,039.27 |
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12 |
12/1/2006 |
290.81 |
17.60 |
273.21 |
6,766.06 |
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13 |
1/1/2007 |
6,782.98 |
16.92 |
6,766.06 |
0.00 |
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