Conventional finance loan amortization schedule
| Period (1) | Loan beginning balance (2) | Instalment amount (3) | Credit interest (4) = (2) × 10% | Loan amortization (5) = (3) – (4) | Loan ending balance (6) = (2) – (5) | Outstanding instalments (7) | Rebate amount (8) = (7) – (6) |
|---|---|---|---|---|---|---|---|
| 1 | 1000.00 | 263.80 | 100.00 | 163.80 | 836.20 | 1055.20 | 219.00 |
| 2 | 836.20 | 263.80 | 83.62 | 180.18 | 656.02 | 791.40 | 135.38 |
| 3 | 656.02 | 263.80 | 65.60 | 198.20 | 457.82 | 527.60 | 69.78 |
| 4 | 457.83 | 263.80 | 45.78 | 218.01 | 239.81 | 263.80 | 23.99 |
| 5 | 239.81 | 263.80 | 23.98 | 239.81 | 0.00 | 0.00 | 0.00 |
| Total | 1319.00 | 319.00 | 1000.00 |
| Period (1) | Loan beginning balance (2) | Instalment amount (3) | Credit interest (4) = (2) × 10% | Loan amortization (5) = (3) – (4) | Loan ending balance (6) = (2) – (5) | Outstanding instalments (7) | Rebate amount (8) = (7) – (6) |
|---|---|---|---|---|---|---|---|
| 1 | 1000.00 | 263.80 | 100.00 | 163.80 | 836.20 | 1055.20 | 219.00 |
| 2 | 836.20 | 263.80 | 83.62 | 180.18 | 656.02 | 791.40 | 135.38 |
| 3 | 656.02 | 263.80 | 65.60 | 198.20 | 457.82 | 527.60 | 69.78 |
| 4 | 457.83 | 263.80 | 45.78 | 218.01 | 239.81 | 263.80 | 23.99 |
| 5 | 239.81 | 263.80 | 23.98 | 239.81 | 0.00 | 0.00 | 0.00 |
| Total | 1319.00 | 319.00 | 1000.00 |
Source(s): Author's own
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