Question

amortization schedule calculator
loan amount $145,750.00
interest rate (annual) 5.41%
term (years) 20
monthly payment $995.20

month payment principal interest total interest balance
$145,750.00
1 $995.20 $338.11 $657.09 $657.09 $145,411.89
131 $995.20 $606.77 $388.44 $70,174.09 $85,552.69
132 $995.20 $609.50 $385.70 $70,559.79 $84,943.19
133 $995.20 $612.25 $382.95 $70,942.74 $84,330.94
134 $995.20 $615.01 $380.19 $71,322.93 $83,715.93
135 $995.20 $617.78 $377.42 $71,700.35 $83,098.15
136 $995.20 $620.57 $374.63 $72,074.99 $82,477.59
137 $995.20 $623.37 $371.84 $72,446.82 $81,854.22
138 $995.20 $626.18 $369.03 $72,815.85 $81,228.04
139 $995.20 $629.00 $366.20 $73,182.05 $80,599.05
140 $995.20 $631.83 $363.37 $73,545.42 $79,967.21
141 $995.20 $634.68 $360.52 $73,905.94 $79,332.53
142 $995.20 $637.54 $357.66 $74,263.60 $78,694.99
143 $995.20 $640.42 $354.78 $74,618.38 $78,054.57
144 $995.20 $643.31 $351.90 $74,970.28 $77,411.26
145 $995.20 $646.21 $349.00 $75,319.27 $76,765.06
146 $995.20 $649.12 $346.08 $75,665.35 $76,115.94
147 $995.20 $652.05 $343.16 $76,008.51 $75,463.89
148 $995.20 $654.99 $340.22 $76,348.73 $74,808.91
149 $995.20 $657.94 $337.26 $76,685.99 $74,150.97

use the partial amortization schedule calculator above to answer questions a) and b).
a) what is the remaining principal after the payment from month 140?
b) how much of the payment from month 138 lowered the principal amount?

Explanation:

Step1: Locate Month 140 balance

Find row for Month 140, check Balance column.

Step2: Locate Month 138 principal

Find row for Month 138, check Principal column.

Answer:

a) $\$79,967.21$
b) $\$626.18$