Flat Payment Schedules

Loan principal 10000

Interest rate 7%
Loan term 6
Annual payment 2097.95799758328

Year Principal at beginning of year Payment at the end of year

1 10,000.00 2097.95799758328
2 8,602.04 2097.95799758328
3 7,106.23 2097.95799758328
4 5,505.70 2097.95799758328
5 3,793.15 2097.95799758328
6 1,960.71 2097.95799758328
7 0
Interest Return of principal
700 1397.95799758328
602.14294016917 1495.81505741411
497.435886150182 1600.52211143309
385.399338349865 1712.55865923341
265.520232203526 1832.43776537975
137.249588626943 1960.70840895633
0 0
Interest 10%

Year Account balance, beginning of year Interest earned during the year
1 1000 100
2 1100 110
3 1210 121
4 1331 133.1
5 1464.1 146.41
6 1610.51 161.051
7 1771.561 177.1561
8 1948.7171 194.87171
9 2143.58881 214.358881
10 2357.947691 235.7947691
Total in account, end year
1100
1210
1331
1464.1
1610.51
1771.561
1948.7171
2143.58881
2357.947691
2593.7424601