![]() The total number of rows below those headings would be 360 to account for each monthly payment. ![]() This calculation has a few moving parts and would best be accomplished in a spreadsheet where you've pre-loaded all your relevant info into column headings like: Principal, Interest Payment, Principal Payment, and Ending Principal. You will mostly be paying off the interest when you start making payments, and then your payments will start to go to the balance. However, the portion of the payment that is principal or interest will change. The dollar amount of the payment stays constant. Since amortization is a monthly calculation in this example, the term is stated in months, not years.
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