Year | Principal Paid | Interest Paid | Remaining Balance |
---|---|---|---|
1 | $17 867,34 | $5 054,06 | $82 132,66 |
2 | $18 875,20 | $4 046,20 | $63 257,47 |
3 | $19 939,91 | $2 981,49 | $43 317,56 |
4 | $21 064,67 | $1 856,72 | $22 252,89 |
5 | $22 252,89 | $668,51 | $0,00 |
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Loan Amount | $100 000,00 |
---|---|
Nominal Annual Rate | 5,50% |
Effective Annual Rate | 5,64% |
Payments per Year | 12 |
Payback Ratio | 1,15x the principal |
50% Principal Payback Period | 2,8 years (33 payments) |
Total of Payments | $114 606,97 |
Total Interest | $14 606,97 |
Year | Principal Paid | Interest Paid | Remaining Balance |
---|---|---|---|
1 | $17 867,34 | $5 054,06 | $82 132,66 |
2 | $18 875,20 | $4 046,20 | $63 257,47 |
3 | $19 939,91 | $2 981,49 | $43 317,56 |
4 | $21 064,67 | $1 856,72 | $22 252,89 |
5 | $22 252,89 | $668,51 | $0,00 |