Partial amortization Schedule

Sue0113

Junior Member
Joined
Feb 1, 2012
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114
Partial amortization Schedule- is it correct?

Mr Lamb borrowed $8321 at 11.12% compounded monthly he agreed to repay the loan in equal monthly payments over 5 years.
So after 57 payments
8321(1.009267)^57 = 14077.37577
181.42(1.009267)^57-1/.009267 = 13543.14768
14077.37577-13543.14768 = 534.2280900
1st coloum is Payment number, 2nd is Amount paid, 3rd coloumn is Interest paid, and 4th is Principal Repaid, the last coloumn is Outstanding principal
for some reason even if you seperate it crams it altoegter, sorry.
0........................................................................... $8321.00
1........... $181.42............ $77.11..........$104.31...... $8216.00
2 ...........$181.42............ $76.14 .........$105.28 ......$8111.41
3 ...........$181.42 ............$75.17......... $106.25...... $8005.16
58 .........$181.42 ............$58.76......... $122.66........$ 404.20
59......... $181.42 ............$51.39......... $130.03 .......$ 274.17
60 .........$181.42 ............$50.21......... $131.21....... $ 142.97
Totals.. $1088.52.......... $388.78......... $699.74........... $ 0​

This is my schedule is it right?​
 
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