Appendix A

Loan Amortization Table

In Chapter 3 , we discuss the four basic components of loans:

By using the nifty tables in this appendix, you can estimate mortgage payments for the most frequently used loan terms ranging from 5 to 30 years and interest rates covering the spectrum from a lusciously low 3 percent all the way up to 18 percent. The amounts shown in these tables indicate how much you’d pay each month to fully repay a $100,000 loan by the end of the indicated term. You can, however, use the tables to calculate the monthly payment for any loan amount by using the following formula:

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Example #1: If you get a $250,000, 30-year mortgage at 8.25 percent interest, your monthly principal and interest payment will be

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Example #2: If you get a $60,000, 20-year mortgage at 12 percent interest, your monthly principal and interest payment will be

images

Monthly Payment to Amortize a Loan of $100,000

Interest Rate

5 Years

7 Years

10 Years

15 Years

20 Years

25 Years

30 Years

3.000%

$1,796.86

$1,321.33

$965.60

$690.58

$554.59

$474.21

$421.60

3.125%

$1,802.43

$1,326.97

$971.38

$696.60

$560.87

$480.73

$428.37

3.250%

$1,808.00

$1,332.62

$977.19

$702.66

$567.19

$487.31

$435.20

3.375%

$1,813.57

$1,338.29

$983.01

$708.75

$573.55

$493.94

$442.09

3.500%

$1,819.17

$1,343.98

$988.85

$714.88

$579.95

$500.62

$449.04

3.625%

$1,824.77

$1,349.68

$994.72

$721.03

$586.40

$507.35

$456.05

3.750%

$1,830.39

$1,355.40

$1,000.61

$727.22

$592.88

$514.13

$463.11

3.875%

$1,836.01

$1,361.13

$1,006.52

$733.44

$599.41

$520.95

$470.23

4.000%

$1,841.65

$1,366.88

$1,012.45

$739.68

$605.98

$527.83

$477.41

4.125%

$1,847.29

$1,372.64

$1,018.40

$745.96

$612.58

$534.76

$484.64

4.250%

$1,852.95

$1,378.41

$1,024.37

$752.27

$619.23

$541.73

$491.93

4.375%

$1,858.62

$1,384.21

$1,030.36

$758.62

$625.92

$548.76

$499.28

4.500%

$1,864.30

$1,390.01

$1,036.38

$764.99

$632.64

$555.83

$506.68

4.625%

$1,869.99

$1,395.83

$1,042.42

$771.39

$639.41

$562.95

$514.14

4.750%

$1,875.69

$1,401.67

$1,048.47

$777.83

$646.22

$570.11

$521.64

4.875%

$1,881.40

$1,407.52

$1,054.55

$784.29

$653.07

$577.33

$529.20

5.000%

$1,887.12

$1,413.39

$1,060.66

$790.79

$659.96

$584.59

$536.82

5.125%

$1,892.86

$1,419.27

$1,066.78

$797.32

$666.88

$591.90

$544.49

5.250%

$1,898.60

$1,425.17

$1,072.92

$803.88

$673.84

$599.25

$552.20

5.375%

$1,904.35

$1,431.08

$1,079.08

$810.47

$680.85

$606.65

$559.97

5.500%

$1,910.12

$1,437.00

$1,085.26

$817.08

$687.89

$614.09

$567.79

5.625%

$1,915.89

$1,442.94

$1,091.47

$823.73

$694.57

$621.57

$575.66

5.750%

$1,921.68

$1,448.90

$1,097.69

$830.41

$702.08

$629.11

$583.57

5.875%

$1,927.47

$1,454.87

$1,103.94

$837.12

$709.24

$636.68

$591.54

6.000%

$1,933.28

$1,460.86

$1,110.21

$843.86

$716.43

$644.30

$599.55

6.125%

$1,939.10

$1,466.86

$1,116.49

$850.62

$723.66

$651.96

$607.61

6.250%

$1,944.93

$1,472.87

$1,122.80

$857.42

$730.93

$659.67

$615.72

6.375%

$1,950.77

$1,478.90

$1,129.13

$864.25

$738.23

$667.42

$623.87

6.500%

$1,956.61

$1,484.94

$1,135.48

$871.11

$745.57

$675.21

$632.07

6.625%

$1,962.48

$1,491.00

$1,141.85

$877.99

$752.95

$683.04

$640.31

6.750%

$1,968.35

$1,497.08

$1,148.24

$884.91

$760.36

$690.91

$648.60

6.875%

$1,974.23

$1,503.16

$1,154.65

$891.85

$767.81

$698.83

$656.93

7.000%

$1,980.12

$1,509.27

$1,161.08

$898.83

$775.30

$706.78

$665.30

7.125%

$1,986.02

$1,515.39

$1,167.54

$905.83

$782.82

$714.77

$673.72

7.250%

$1,991.94

$1,521.52

$1,174.01

$912.86

$790.38

$722.81

$682.18

7.375%

$1,997.86

$1,527.67

$1,180.50

$919.92

$797.97

$730.88

$690.68

7.500%

$2,003.79

$1,533.83

$1,187.02

$927.01

$805.59

$738.99

$699.21

7.625%

$2,009.74

$1,540.00

$1,193.55

$934.13

$813.25

$747.14

$707.79

7.750%

$2,015.70

$1,546.20

$1,200.11

$941.28

$820.95

$755.33

$716.41

7.875%

$2,021.66

$1,552.40

$1,206.68

$948.45

$828.68

$763.55

$725.07

8.000%

$2,027.64

$1,558.62

$1,213.28

$955.65

$836.44

$771.82

$733.76

8.125%

$2,033.63

$1,564.86

$1,219.89

$962.88

$844.24

$780.12

$742.50

8.250%

$2,039.63

$1,571.11

$1,226.53

$970.14

$852.07

$788.45

$751.27

8.375%

$2,045.63

$1,577.37

$1,233.18

$977.43

$859.93

$796.82

$760.07

8.500%

$2,051.65

$1,583.65

$1,239.86

$984.74

$867.82

$805.23

$768.91

8.625%

$2,057.68

$1,589.94

$1,246.55

$992.08

$875.75

$813.67

$777.79

8.750%

$2,063.72

$1,596.25

$1,253.27

$999.45

$883.71

$822.14

$786.70

8.875%

$2,069.77

$1,602.57

$1,260.00

$1,006.84

$891.70

$830.65

$795.64

9.000%

$2,075.84

$1,608.91

$1,266.76

$1,014.27

$899.73

$839.20

$804.62

9.125%

$2,081.91

$1,615.26

$1,273.53

$1,021.72

$907.78

$847.77

$813.63

9.250%

$2,087.99

$1,621.62

$1,280.33

$1,029.19

$915.87

$856.38

$822.68

9.375%

$2,094.08

$1,628.00

$1,287.14

$1,036.70

$923.98

$865.02

$831.75

9.500%

$2,100.19

$1,634.40

$1,293.98

$1,044.22

$932.13

$873.70

$840.85

9.625%

$2,106.30

$1,640.81

$1,300.83

$1,051.78

$940.31

$882.40

$849.99

9.750%

$2,112.42

$1,647.23

$1,307.70

$1,059.36

$948.52

$891.14

$859.15

9.875%

$2,118.56

$1,653.67

$1,314.60

$1,066.97

$956.75

$899.90

$868.35

10.000%

$2,124.70

$1,660.12

$1,321.51

$1,074.61

$965.02

$908.70

$877.57

10.125%

$2,130.86

$1,666.58

$1,328.44

$1,082.27

$973.32

$917.53

$886.82

10.250%

$2,137.03

$1,673.06

$1,335.39

$1,089.95

$981.64

$926.38

$896.10

10.375%

$2,143.20

$1,679.56

$1,342.36

$1,097.66

$990.00

$935.27

$905.41

10.500%

$2,149.39

$1,686.07

$1,349.35

$1,105.40

$998.38

$944.18

$914.74

10.625%

$2,155.59

$1,692.59

$1,356.36

$1,113.16

$1,006.79

$953.12

$924.10

10.750%

$2,161.80

$1,699.13

$1,363.39

$1,120.95

$1,015.23

$962.09

$933.48

10.875%

$2,168.01

$1,705.68

$1,370.43

$1,128.76

$1,023.70

$971.09

$942.89

11.000%

$2,174.24

$1,712.24

$1,377.50

$1,136.60

$1,032.19

$980.11

$952.32

11.125%

$2,180.48

$1,718.82

$1,384.59

$1,144.46

$1,040.71

$989.16

$961.78

11.250%

$2,186.73

$1,725.42

$1,391.69

$1,152.34

$1,049.26

$998.24

$971.26

11.375%

$2,192.99

$1,732.02

$1,398.81

$1,160.26

$1,057.83

$1,007.34

$980.77

11.500%

$2,199.26

$1,738.65

$1,405.95

$1,168.19

$1,066.43

$1,016.47

$990.29

11.625%

$2,205.54

$1,745.28

$1,413.12

$1,176.15

$1,075.06

$1,025.62

$999.84

11.750%

$2,211.83

$1,751.93

$1,420.29

$1,184.13

$1,083.71

$1,034.80

$1,009.41

11.875%

$2,218.13

$1,758.60

$1,427.49

$1,192.14

$1,092.38

$1,044.00

$1,019.00

12.000%

$2,224.44

$1,765.27

$1,434.71

$1,200.17

$1,101.09

$1,053.22

$1,028.61

12.125%

$2,230.77

$1,771.97

$1,441.94

$1,208.22

$1,109.81

$1,062.47

$1,038.24

12.250%

$2,237.10

$1,778.67

$1,449.20

$1,216.30

$1,118.56

$1,071.74

$1,047.90

12.375%

$2,243.44

$1,785.39

$1,456.47

$1,224.40

$1,127.34

$1,081.04

$1,057.57

12.500%

$2,249.79

$1,792.12

$1,463.76

$1,232.52

$1,136.14

$1,090.35

$1,067.26

12.625%

$2,256.16

$1,798.87

$1,471.07

$1,240.67

$1,144.96

$1,099.69

$1,076.97

12.750%

$2,262.53

$1,805.63

$1,478.40

$1,248.84

$1,153.81

$1,109.05

$1,086.69

12.875%

$2,268.91

$1,812.41

$1,485.74

$1,257.03

$1,162.68

$1,118.43

$1,096.44

13.000%

$2,275.31

$1,819.20

$1,493.11

$1,265.24

$1,171.58

$1,127.84

$1,106.20

13.125%

$2,281.71

$1,826.00

$1,500.49

$1,273.48

$1,180.49

$1,137.26

$1,115.98

13.250%

$2,288.13

$1,832.82

$1,507.89

$1,281.74

$1,189.43

$1,146.70

$1,125.77

13.375%

$2,294.55

$1,839.65

$1,515.31

$1,290.02

$1,198.39

$1,156.16

$1,135.58

13.500%

$2,300.98

$1,846.49

$1,522.74

$1,298.32

$1,207.37

$1,165.64

$1,145.41

13.625%

$2,307.43

$1,853.35

$1,530.20

$1,306.64

$1,216.38

$1,175.15

$1,155.25

13.750%

$2,313.88

$1,860.22

$1,537.67

$1,314.99

$1,225.41

$1,184.67

$1,165.11

13.875%

$2,320.35

$1,867.10

$1,545.16

$1,323.35

$1,234.45

$1,194.20

$1,174.98

14.000%

$2,326.83

$1,874.00

$1,552.66

$1,331.74

$1,243.52

$1,203.76

$1,184.87

14.125%

$2,333.31

$1,880.91

$1,560.19

$1,340.15

$1,252.61

$1,213.34

$1,194.77

14.250%

$2,339.81

$1,887.84

$1,567.73

$1,348.58

$1,261.72

$1,222.93

$1,204.69

14.375%

$2,346.31

$1,894.78

$1,575.29

$1,357.03

$1,270.85

$1,232.54

$1,214.61

14.500%

$2,352.83

$1,901.73

$1,582.87

$1,365.50

$1,280.00

$1,242.16

$1,224.56

14.625%

$2,359.35

$1,908.70

$1,590.46

$1,373.99

$1,289.17

$1,251.81

$1,234.51

14.750%

$2,365.89

$1,915.68

$1,598.07

$1,382.50

$1,298.36

$1,261.46

$1,244.48

14.875%

$2,372.44

$1,922.67

$1,605.70

$1,391.04

$1,307.56

$1,271.14

$1,254.45

15.000%

$2,378.99

$1,929.68

$1,613.35

$1,399.59

$1,316.79

$1,280.83

$1,264.44

15.125%

$2,285.56

$1,936.70

$1,621.01

$1,408.16

$1,326.03

$1,290.54

$1,274.45

15.250%

$2,392.14

$1,943.73

$1,628.69

$1,416.75

$1,335.30

$1,300.26

$1,284.46

15.375%

$2,398.72

$1,950.77

$1,636.39

$1,425.36

$1,344.58

$1,309.99

$1,294.48

15.500%

$2,405.32

$1,957.83

$1,644.11

$1,433.99

$1,353.88

$1,319.75

$1,304.52

15.625%

$2,411.93

$1,964.91

$1,651.84

$1,442.64

$1,363.20

$1,329.51

$1,314.56

15.750%

$2,418.54

$1,971.99

$1,659.58

$1,451.31

$1,372.53

$1,339.29

$1,324.62

15.875%

$2,425.17

$1,979.09

$1,667.35

$1,459.99

$1,381.89

$1,349.08

$1,334.68

16.000%

$2,431.81

$1,986.21

$1,675.13

$1,468.70

$1,391.26

$1,358.89

$1,344.76

16.125%

$2,438.45

$1,993.33

$1,682.93

$1,477.43

$1,400.64

$1,368.71

$1,354.84

16.250%

$2,445.11

$2,000.47

$1,690.74

$1,486.17

$1,410.05

$1,378.54

$1,364.93

16.375%

$2,451.78

$2,007.62

$1,698.58

$1,494.93

$1,419.46

$1,388.39

$1,375.04

16.500%

$2,458.45

$2,014.79

$1,706.42

$1,503.71

$1,428.90

$1,398.24

$1,385.15

16.625%

$2,465.14

$2,021.97

$1,714.29

$1,512.51

$1,438.35

$1,408.11

$1,395.27

16.750%

$2,471.84

$2,029.16

$1,722.17

$1,521.32

$1,447.82

$1,418.00

$1,405.40

16.875%

$2,478.54

$2,036.36

$1,730.06

$1,530.15

$1,457.30

$1,427.89

$1,415.53

17.000%

$2,485.26

$2,043.58

$1,737.98

$1,539.00

$1,466.80

$1,437.80

$1,425.68

17.125%

$2,491.98

$2,050.81

$1,745.91

$1,547.87

$1,476.31

$1,447.71

$1,435.83

17.250%

$2,498.72

$2,058.05

$1,753.85

$1,556.76

$1,485.84

$1,457.64

$1,445.99

17.375%

$2,505.47

$2,065.31

$1,761.81

$1,565.66

$1,495.38

$1,467.58

$1,456.15

17.500%

$2,512.22

$2,072.58

$1,769.79

$1,574.58

$1,504.94

$1,477.53

$1,466.33

17.625%

$2,518.99

$2,079.86

$1,777.78

$1,583.51

$1,514.51

$1,487.49

$1,476.51

17.750%

$2,525.76

$2,087.16

$1,785.79

$1,592.47

$1,524.10

$1,497.46

$1,486.69

17.875%

$2,532.55

$2,094.46

$1,793.81

$1,601.44

$1,533.70

$1,507.44

$1,496.89

18.000%

$2,539.34

$2,101.78

$1,801.85

$1,610.42

$1,543.31

$1,517.43

$1,507.09