| 7 Year Balloon Loan Amortization | ||||||
| January 2, 2000 | ||||||
| This worksheet calculates monthly loan payments and prepares an amortization schedule for a 7 year balloon loan. A balloon loan requires a large final payment at some future date.
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| Name | Tom Jones | Financial Inputs | ||||
| Address | 1234 Number Street | Loan Amount | $275,000 | |||
| City, State, Zip | Jacksonville, Fl 32256 | Interest Rate | 4.000% | |||
| Telephone | 508-555-9909 | Period (in years) | 30 | |||
| Loan Summary Information | ||||||
| Loan Date | 1/2/00 23:18 | Monthly Payment | $1,312.89 | |||
| Loan Number | 15888 | Total Interest | $71,946.48 | |||
| Miscellaneous | Single Family | Total Payments | $110,282.93 | |||
| Appraised Value | $1,500,000 | Balloon Payment | $236,663.54 | |||
| Amortization Schedule of 7 Year Balloon Loan | ||||||
| Beginning | Total | Total | Total | Ending | ||
| Mortgage | Monthly | Interest | Principal | Mortgage | ||
| Year | Balance | Payment | Portion | Portion | Balance | |
| 1 | $275,000.00 | $15,754.70 | $10,911.85 | $4,842.85 | $270,157.15 | |
| 2 | $270,157.15 | $15,754.70 | $10,714.55 | $5,040.16 | $265,116.99 | |
| 3 | $265,116.99 | $15,754.70 | $10,509.21 | $5,245.50 | $259,871.50 | |
| 4 | $259,871.50 | $15,754.70 | $10,295.50 | $5,459.21 | $254,412.29 | |
| 5 | $254,412.29 | $15,754.70 | $10,073.08 | $5,681.63 | $248,730.66 | |
| 6 | $248,730.66 | $15,754.70 | $9,841.60 | $5,913.10 | $242,817.56 | |
| 7 | $242,817.56 | $15,754.70 | $9,600.69 | $6,154.01 | $236,663.54 | |
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