Interest-Only Loan Calculator

http://www.vertex42.com/Calculators/interest-only-loan.html 2009-2017 Vertex42 LLC

Loan Information Summary

Loan Amount $ 250,000 Rate (per period) 0.500%
Annual Interest Rate 6.00% Number of Payments 180
Compound Period Monthly Years to Pay Off 15.00
Term (Length) of Loan 15 yrs Total Payments $ 385,119.04
First Payment Date 2/1/2015 Total Interest $ 135,119.04
Payment Frequency Monthly Est. Interest Savings $ (5,383.47)
Payment Type End of Period .
Interest-Only Period 1 yrs .
Rounding On Yes

Interest-Only Payment $1,250.00

Payment After IO Period $2,203.09

Amortization Schedule
Additional
No. Due Date Payment Payment Interest Principal Balance
$250,000.00
1 2/1/15 1,250.00 1,250.00 0.00 250,000.00
2 3/1/15 1,250.00 1,250.00 0.00 250,000.00
3 4/1/15 1,250.00 1,250.00 0.00 250,000.00
4 5/1/15 1,250.00 1,250.00 0.00 250,000.00
5 6/1/15 1,250.00 1,250.00 0.00 250,000.00
6 7/1/15 1,250.00 1,250.00 0.00 250,000.00
7 8/1/15 1,250.00 1,250.00 0.00 250,000.00
8 9/1/15 1,250.00 1,250.00 0.00 250,000.00
9 10/1/15 1,250.00 1,250.00 0.00 250,000.00
10 11/1/15 1,250.00 1,250.00 0.00 250,000.00
11 12/1/15 1,250.00 1,250.00 0.00 250,000.00
12 1/1/16 1,250.00 1,250.00 0.00 250,000.00
13 2/1/16 2,203.09 1,250.00 953.09 249,046.91
14 3/1/16 2,203.09 1,245.23 957.86 248,089.05
15 4/1/16 2,203.09 1,240.45 962.64 247,126.41
16 5/1/16 2,203.09 1,235.63 967.46 246,158.95
17 6/1/16 2,203.09 1,230.79 972.30 245,186.65
18 7/1/16 2,203.09 1,225.93 977.16 244,209.49
19 8/1/16 2,203.09 1,221.05 982.04 243,227.45
20 9/1/16 2,203.09 1,216.14 986.95 242,240.50
21 10/1/16 2,203.09 1,211.20 991.89 241,248.61
22 11/1/16 2,203.09 1,206.24 996.85 240,251.76
23 12/1/16 2,203.09 1,201.26 1,001.83 239,249.93
24 1/1/17 2,203.09 1,196.25 1,006.84 238,243.09
25 2/1/17 2,203.09 1,191.22 1,011.87 237,231.22
26 3/1/17 2,203.09 1,186.16 1,016.93 236,214.29
27 4/1/17 2,203.09 1,181.07 1,022.02 235,192.27
28 5/1/17 2,203.09 1,175.96 1,027.13 234,165.14
29 6/1/17 2,203.09 1,170.83 1,032.26 233,132.88

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 Additional
No. Due Date Payment Payment Interest Principal Balance
30 7/1/17 2,203.09 1,165.66 1,037.43 232,095.45
31 8/1/17 2,203.09 1,160.48 1,042.61 231,052.84
32 9/1/17 2,203.09 1,155.26 1,047.83 230,005.01
33 10/1/17 2,203.09 1,150.03 1,053.06 228,951.95
34 11/1/17 2,203.09 1,144.76 1,058.33 227,893.62
35 12/1/17 2,203.09 1,139.47 1,063.62 226,830.00
36 1/1/18 2,203.09 1,134.15 1,068.94 225,761.06
37 2/1/18 2,203.09 1,128.81 1,074.28 224,686.78
38 3/1/18 2,203.09 1,123.43 1,079.66 223,607.12
39 4/1/18 2,203.09 1,118.04 1,085.05 222,522.07
40 5/1/18 2,203.09 1,112.61 1,090.48 221,431.59
41 6/1/18 2,203.09 1,107.16 1,095.93 220,335.66
42 7/1/18 2,203.09 1,101.68 1,101.41 219,234.25
43 8/1/18 2,203.09 1,096.17 1,106.92 218,127.33
44 9/1/18 2,203.09 1,090.64 1,112.45 217,014.88
45 10/1/18 2,203.09 1,085.07 1,118.02 215,896.86
46 11/1/18 2,203.09 1,079.48 1,123.61 214,773.25
47 12/1/18 2,203.09 1,073.87 1,129.22 213,644.03
48 1/1/19 2,203.09 1,068.22 1,134.87 212,509.16
49 2/1/19 2,203.09 1,062.55 1,140.54 211,368.62
50 3/1/19 2,203.09 1,056.84 1,146.25 210,222.37
51 4/1/19 2,203.09 1,051.11 1,151.98 209,070.39
52 5/1/19 2,203.09 1,045.35 1,157.74 207,912.65
53 6/1/19 2,203.09 1,039.56 1,163.53 206,749.12
54 7/1/19 2,203.09 1,033.75 1,169.34 205,579.78
55 8/1/19 2,203.09 1,027.90 1,175.19 204,404.59
56 9/1/19 2,203.09 1,022.02 1,181.07 203,223.52
57 10/1/19 2,203.09 1,016.12 1,186.97 202,036.55
58 11/1/19 2,203.09 1,010.18 1,192.91 200,843.64
59 12/1/19 2,203.09 1,004.22 1,198.87 199,644.77
60 1/1/20 2,203.09 998.22 1,204.87 198,439.90
61 2/1/20 2,203.09 992.20 1,210.89 197,229.01
62 3/1/20 2,203.09 986.15 1,216.94 196,012.07
63 4/1/20 2,203.09 980.06 1,223.03 194,789.04
64 5/1/20 2,203.09 973.95 1,229.14 193,559.90
65 6/1/20 2,203.09 967.80 1,235.29 192,324.61
66 7/1/20 2,203.09 961.62 1,241.47 191,083.14
67 8/1/20 2,203.09 955.42 1,247.67 189,835.47
68 9/1/20 2,203.09 949.18 1,253.91 188,581.56
69 10/1/20 2,203.09 942.91 1,260.18 187,321.38
70 11/1/20 2,203.09 936.61 1,266.48 186,054.90
71 12/1/20 2,203.09 930.27 1,272.82 184,782.08
72 1/1/21 2,203.09 923.91 1,279.18 183,502.90
73 2/1/21 2,203.09 917.51 1,285.58 182,217.32
74 3/1/21 2,203.09 911.09 1,292.00 180,925.32
75 4/1/21 2,203.09 904.63 1,298.46 179,626.86
76 5/1/21 2,203.09 898.13 1,304.96 178,321.90
77 6/1/21 2,203.09 891.61 1,311.48 177,010.42
78 7/1/21 2,203.09 885.05 1,318.04 175,692.38
79 8/1/21 2,203.09 878.46 1,324.63 174,367.75
80 9/1/21 2,203.09 871.84 1,331.25 173,036.50
81 10/1/21 2,203.09 865.18 1,337.91 171,698.59

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 Additional
No. Due Date Payment Payment Interest Principal Balance
82 11/1/21 2,203.09 858.49 1,344.60 170,353.99
83 12/1/21 2,203.09 851.77 1,351.32 169,002.67
84 1/1/22 2,203.09 845.01 1,358.08 167,644.59
85 2/1/22 2,203.09 838.22 1,364.87 166,279.72
86 3/1/22 2,203.09 831.40 1,371.69 164,908.03
87 4/1/22 2,203.09 824.54 1,378.55 163,529.48
88 5/1/22 2,203.09 817.65 1,385.44 162,144.04
89 6/1/22 2,203.09 810.72 1,392.37 160,751.67
90 7/1/22 2,203.09 803.76 1,399.33 159,352.34
91 8/1/22 2,203.09 796.76 1,406.33 157,946.01
92 9/1/22 2,203.09 789.73 1,413.36 156,532.65
93 10/1/22 2,203.09 782.66 1,420.43 155,112.22
94 11/1/22 2,203.09 775.56 1,427.53 153,684.69
95 12/1/22 2,203.09 768.42 1,434.67 152,250.02
96 1/1/23 2,203.09 761.25 1,441.84 150,808.18
97 2/1/23 2,203.09 754.04 1,449.05 149,359.13
98 3/1/23 2,203.09 746.80 1,456.29 147,902.84
99 4/1/23 2,203.09 739.51 1,463.58 146,439.26
100 5/1/23 2,203.09 732.20 1,470.89 144,968.37
101 6/1/23 2,203.09 724.84 1,478.25 143,490.12
102 7/1/23 2,203.09 717.45 1,485.64 142,004.48
103 8/1/23 2,203.09 710.02 1,493.07 140,511.41
104 9/1/23 2,203.09 702.56 1,500.53 139,010.88
105 10/1/23 2,203.09 695.05 1,508.04 137,502.84
106 11/1/23 2,203.09 687.51 1,515.58 135,987.26
107 12/1/23 2,203.09 679.94 1,523.15 134,464.11
108 1/1/24 2,203.09 672.32 1,530.77 132,933.34
109 2/1/24 2,203.09 664.67 1,538.42 131,394.92
110 3/1/24 2,203.09 656.97 1,546.12 129,848.80
111 4/1/24 2,203.09 649.24 1,553.85 128,294.95
112 5/1/24 2,203.09 641.47 1,561.62 126,733.33
113 6/1/24 2,203.09 633.67 1,569.42 125,163.91
114 7/1/24 2,203.09 625.82 1,577.27 123,586.64
115 8/1/24 2,203.09 617.93 1,585.16 122,001.48
116 9/1/24 2,203.09 610.01 1,593.08 120,408.40
117 10/1/24 2,203.09 602.04 1,601.05 118,807.35
118 11/1/24 2,203.09 594.04 1,609.05 117,198.30
119 12/1/24 2,203.09 585.99 1,617.10 115,581.20
120 1/1/25 2,203.09 577.91 1,625.18 113,956.02
121 2/1/25 2,203.09 569.78 1,633.31 112,322.71
122 3/1/25 2,203.09 561.61 1,641.48 110,681.23
123 4/1/25 2,203.09 553.41 1,649.68 109,031.55
124 5/1/25 2,203.09 545.16 1,657.93 107,373.62
125 6/1/25 2,203.09 536.87 1,666.22 105,707.40
126 7/1/25 2,203.09 528.54 1,674.55 104,032.85
127 8/1/25 2,203.09 520.16 1,682.93 102,349.92
128 9/1/25 2,203.09 511.75 1,691.34 100,658.58
129 10/1/25 2,203.09 503.29 1,699.80 98,958.78
130 11/1/25 2,203.09 494.79 1,708.30 97,250.48
131 12/1/25 2,203.09 486.25 1,716.84 95,533.64
132 1/1/26 2,203.09 477.67 1,725.42 93,808.22
133 2/1/26 2,203.09 469.04 1,734.05 92,074.17

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 Additional
No. Due Date Payment Payment Interest Principal Balance
134 3/1/26 2,203.09 460.37 1,742.72 90,331.45
135 4/1/26 2,203.09 451.66 1,751.43 88,580.02
136 5/1/26 2,203.09 442.90 1,760.19 86,819.83
137 6/1/26 2,203.09 434.10 1,768.99 85,050.84
138 7/1/26 2,203.09 425.25 1,777.84 83,273.00
139 8/1/26 2,203.09 416.36 1,786.73 81,486.27
140 9/1/26 2,203.09 407.43 1,795.66 79,690.61
141 10/1/26 2,203.09 398.45 1,804.64 77,885.97
142 11/1/26 2,203.09 389.43 1,813.66 76,072.31
143 12/1/26 2,203.09 380.36 1,822.73 74,249.58
144 1/1/27 2,203.09 371.25 1,831.84 72,417.74
145 2/1/27 2,203.09 362.09 1,841.00 70,576.74
146 3/1/27 2,203.09 352.88 1,850.21 68,726.53
147 4/1/27 2,203.09 343.63 1,859.46 66,867.07
148 5/1/27 2,203.09 334.34 1,868.75 64,998.32
149 6/1/27 2,203.09 324.99 1,878.10 63,120.22
150 7/1/27 2,203.09 315.60 1,887.49 61,232.73
151 8/1/27 2,203.09 306.16 1,896.93 59,335.80
152 9/1/27 2,203.09 296.68 1,906.41 57,429.39
153 10/1/27 2,203.09 287.15 1,915.94 55,513.45
154 11/1/27 2,203.09 277.57 1,925.52 53,587.93
155 12/1/27 2,203.09 267.94 1,935.15 51,652.78
156 1/1/28 2,203.09 258.26 1,944.83 49,707.95
157 2/1/28 2,203.09 248.54 1,954.55 47,753.40
158 3/1/28 2,203.09 238.77 1,964.32 45,789.08
159 4/1/28 2,203.09 228.95 1,974.14 43,814.94
160 5/1/28 2,203.09 219.07 1,984.02 41,830.92
161 6/1/28 2,203.09 209.15 1,993.94 39,836.98
162 7/1/28 2,203.09 199.18 2,003.91 37,833.07
163 8/1/28 2,203.09 189.17 2,013.92 35,819.15
164 9/1/28 2,203.09 179.10 2,023.99 33,795.16
165 10/1/28 2,203.09 168.98 2,034.11 31,761.05
166 11/1/28 2,203.09 158.81 2,044.28 29,716.77
167 12/1/28 2,203.09 148.58 2,054.51 27,662.26
168 1/1/29 2,203.09 138.31 2,064.78 25,597.48
169 2/1/29 2,203.09 127.99 2,075.10 23,522.38
170 3/1/29 2,203.09 117.61 2,085.48 21,436.90
171 4/1/29 2,203.09 107.18 2,095.91 19,340.99
172 5/1/29 2,203.09 96.70 2,106.39 17,234.60
173 6/1/29 2,203.09 86.17 2,116.92 15,117.68
174 7/1/29 2,203.09 75.59 2,127.50 12,990.18
175 8/1/29 2,203.09 64.95 2,138.14 10,852.04
176 9/1/29 2,203.09 54.26 2,148.83 8,703.21
177 10/1/29 2,203.09 43.52 2,159.57 6,543.64
178 11/1/29 2,203.09 32.72 2,170.37 4,373.27
179 12/1/29 2,203.09 21.87 2,181.22 2,192.05
180 1/1/30 2,203.01 10.96 2,192.05 0.00

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End End

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HELP
http://www.vertex42.com/Calculators/interest-only-loan.html 2009-2017 Vertex42 LLC

Using This Template

This spreadsheet creates an amortization schedule for a fixed-rate loan, with optional
extra payments and an optional interest-only period.

The payment frequency can be annual, semi-annual, quarterly, bi-monthly, monthly,

semi-monthly, bi-weekly, or weekly. Values are rounded to the nearest cent. The last
payment is adjusted to bring the balance to zero.

By default, the compound period is set equal to the payment frequency, but this can be
changed if the loan is a US or Canadian mortgage for example. Be careful not to set the
Compound Period shorter than the Payment Frequency because that will result in
negative amortization.

You can select whether payments are due at the End or Beginning of the payment
period. The rounding option is for comparison with other calculators that do not round
the payment or interest.

Note: The spreadsheet is only valid for up to 780 payments (65-year monthly, 30-year
biweekly, 15-year weekly, etc.)

Additional Help
The link at the top of this worksheet will take you to the web page on vertex42.com that
talks about this template.

REFERENCES

SEE ALSO Vertex42.com: Loan Amortization Schedule

SEE ALSO Vertex42.com: Personal Budget Spreadsheet

TIPS Vertex42.com: Spreadsheet Tips Workbook

09-2017 Vertex42 LLC
Interest-Only Loan Calculator
By Vertex42.com
http://www.vertex42.com/Calculators/interest-only-loan.html

2009-2017 Vertex42 LLC

This spreadsheet, including all worksheets and associated content is a

copyrighted work under the United States and other copyright laws.

Do not submit copies or modifications of this template to any website or online

template gallery.

Please review the following license agreement to learn how you may or may not
use this template. Thank you.

See License Agreement

http://www.vertex42.com/licensing/EULA_personaluse.html

Do not delete this worksheet. If necessary, you may hide it by right-clicking on

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