Suppose that you got a $100,000 20 year house mortgage 8 years ago at 9% annual interest compounded monthly. Now you want to sell the house. How much of the past mortgage payments was principal and how much was interest? You need to construct a mortgage schedule.
The monthly mortgage payment is $899.73.
Payment Number Payment Interest Unpaid Balance Reduction Unpaid Balance 0 $100,000.00 1 $899.73 $750.00 $149.73 $99,850.27 2 $898.38 $748.88 $149.50 $99,700.77 3 $899.73 $747.76 $151.97 $99,548.80 4 $899.73 $746.62 $153.11 $99,395.69 5 $899.73 $745.47 $154.26 $99,241.43 6 $899.73 $744.31 $155.42 $99,086.02 7 $899.73 $743.15 $156.58 $98,929.44 8 $899.73 $741.97 $157.76 $98,771.68 9 $899.73 $740.79 $158.94 $98,612.74 10 $899.73 $739.60 $160.13 $98,452.61 11 $899.73 $738.39 $161.33 $98,291.28 12 $899.73 $737.18 $162.54 $98,128.74 13 $899.73 $735.97 $163.76 $97,964.98 14 $899.73 $734.74 $164.99 $97,799.99 15 $899.73 $733.50 $166.23 $97,633.77 16 $899.73 $732.25 $167.47 $97,466.29 17 $899.73 $731.00 $168.73 $97,297.56 18 $899.73 $729.73 $169.99 $97,127.57 19 $899.73 $728.46 $171.27 $96,956.30 20 $899.73 $727.17 $172.55 $96,783.75 21 $899.73 $725.88 $173.85 $96,609.90 22 $899.73 $724.57 $175.15 $96,434.75 23 $899.73 $723.26 $176.47 $96,258.28 24 $899.73 $721.94 $177.79 $96,080.49 25 $899.73 $720.60 $179.12 $95,901.37 26 $899.73 $719.26 $180.47 $95,720.91 27 $899.73 $717.91 $181.82 $95,539.09 28 $899.73 $716.54 $183.18 $95,355.90 29 $899.73 $715.17 $184.56 $95,171.35 30 $899.73 $713.79 $185.94 $94,985.41 31 $899.73 $712.39 $187.34 $94,798.07 32 $899.73 $710.99 $188.74 $94,609.33 33 $899.73 $709.57 $190.16 $94,419.17 34 $899.73 $708.14 $191.58 $94,227.59 35 $899.73 $706.71 $193.02 $94,034.57 36 $899.73 $705.26 $194.47 $93,840.11 37 $899.73 $703.80 $195.93 $93,644.18 38 $899.73 $702.33 $197.39 $93,446.79 39 $899.73 $700.85 $198.88 $93,247.91 40 $899.73 $699.36 $200.37 $93,047.55 41 $899.73 $697.86 $201.87 $92,845.68 42 $899.73 $696.34 $203.38 $92,642.29 43 $899.73 $694.82 $204.91 $92,437.38 44 $899.73 $693.28 $206.45 $92,230.94 45 $899.73 $691.73 $207.99 $92,022.94 46 $899.73 $690.17 $209.55 $91,813.39 47 $899.73 $688.60 $211.13 $91,602.27 48 $899.73 $687.02 $212.71 $91,389.56 49 $899.73 $685.42 $214.30 $91,175.25 50 $899.73 $683.81 $215.91 $90,959.34 51 $899.73 $682.20 $217.53 $90,741.81 52 $899.73 $680.56 $219.16 $90,522.65 53 $899.73 $678.92 $220.81 $90,301.84 54 $899.73 $677.26 $222.46 $90,079.38 55 $899.73 $675.60 $224.13 $89,855.25 56 $899.73 $673.91 $225.81 $89,629.44 57 $899.73 $672.22 $227.51 $89,401.93 58 $899.73 $670.51 $229.21 $89,172.72 59 $899.73 $668.80 $230.93 $88,941.79 60 $899.73 $667.06 $232.66 $88,709.13 61 $899.73 $665.32 $234.41 $88,474.72 62 $899.73 $663.56 $236.17 $88,238.55 63 $899.73 $661.79 $237.94 $88,000.62 64 $899.73 $660.00 $239.72 $87,760.90 65 $899.73 $658.21 $241.52 $87,519.38 66 $899.73 $656.40 $243.33 $87,276.05 67 $899.73 $654.57 $245.16 $87,030.89 68 $899.73 $652.73 $246.99 $86,783.90 69 $899.73 $650.88 $248.85 $86,535.05 70 $899.73 $649.01 $250.71 $86,284.34 71 $899.73 $647.13 $252.59 $86,031.74 72 $899.73 $645.24 $254.49 $85,777.25 73 $899.73 $643.33 $256.40 $85,520.86 74 $899.73 $641.41 $258.32 $85,262.54 75 $899.73 $639.47 $260.26 $85,002.28 76 $899.73 $637.52 $262.21 $84,740.07 77 $899.73 $635.55 $264.18 $84,475.90 78 $899.73 $633.57 $266.16 $84,209.74 79 $899.73 $631.57 $268.15 $83,941.59 80 $899.73 $629.56 $270.16 $83,671.42 81 $899.73 $627.54 $272.19 $83,399.23 82 $899.73 $625.49 $274.23 $83,125.00 83 $899.73 $623.44 $276.29 $82,848.71 84 $899.73 $621.37 $278.36 $82,570.35 85 $899.73 $619.28 $280.45 $82,289.90 86 $899.73 $617.17 $282.55 $82,007.35 87 $899.73 $615.06 $284.67 $81,722.68 88 $899.73 $612.92 $286.81 $81,435.88 89 $899.73 $610.77 $288.96 $81,146.92 90 $899.73 $608.60 $291.12 $80,855.80 91 $899.73 $606.42 $293.31 $80,562.49 92 $899.73 $604.22 $295.51 $80,266.98 93 $899.73 $602.00 $297.72 $79,969.26 94 $899.73 $599.77 $299.96 $79,669.30 95 $899.73 $597.52 $302.21 $79,367.09 96 $899.73 $595.25 $304.47 $79,062.62 97 $899.73 $592.97 $306.76 $78,755.87 98 $899.73 $590.67 $309.06 $78,446.81 99 $899.73 $588.35 $311.37 $78,135.43 100 $899.73 $586.02 $313.71 $77,821.72 101 $899.73 $583.66 $316.06 $77,505.66 102 $899.73 $581.29 $318.43 $77,187.23 103 $899.73 $578.90 $320.82 $76,866.40 104 $899.73 $576.50 $323.23 $76,543.18 105 $899.73 $574.07 $325.65 $76,217.52 106 $899.73 $571.63 $328.09 $75,889.43 107 $899.73 $569.17 $330.56 $75,558.87 108 $899.73 $566.69 $333.03 $75,225.84 109 $899.73 $564.19 $335.53 $74,890.31 110 $899.73 $561.68 $338.05 $74,552.26 111 $899.73 $559.14 $340.58 $74,211.68 112 $899.73 $556.59 $343.14 $73,868.54 113 $899.73 $554.01 $345.71 $73,522.83 114 $899.73 $551.42 $348.30 $73,174.52 115 $899.73 $548.81 $350.92 $72,823.60 116 $899.73 $546.18 $353.55 $72,470.05 117 $899.73 $543.53 $356.20 $72,113.85 118 $899.73 $540.85 $358.87 $71,754.98 119 $899.73 $538.16 $361.56 $71,393.42 120 $899.73 $535.45 $364.28 $71,029.14 121 $899.73 $532.72 $367.01 $70,662.14 122 $899.73 $529.97 $369.76 $70,292.38 123 $899.73 $527.19 $372.53 $69,919.84 124 $899.73 $524.40 $375.33 $69,544.52 125 $899.73 $521.58 $378.14 $69,166.37 126 $899.73 $518.75 $380.98 $68,785.40 127 $899.73 $515.89 $383.84 $68,401.56 128 $899.73 $513.01 $386.71 $68,014.85 129 $899.73 $510.11 $389.61 $67,625.23 130 $899.73 $507.19 $392.54 $67,232.69 131 $899.73 $504.25 $395.48 $66,837.21 132 $899.73 $501.28 $398.45 $66,438.77 133 $899.73 $498.29 $401.44 $66,037.33 134 $899.73 $495.28 $404.45 $65,632.89 135 $899.73 $492.25 $407.48 $65,225.41 136 $899.73 $489.19 $410.54 $64,814.87 137 $899.73 $486.11 $413.61 $64,401.26 138 $899.73 $483.01 $416.72 $63,984.54 139 $899.73 $479.88 $419.84 $63,564.70 140 $899.73 $476.74 $422.99 $63,141.71 141 $899.73 $473.56 $426.16 $62,715.54 142 $899.73 $470.37 $429.36 $62,286.18 143 $899.73 $467.15 $432.58 $61,853.61 144 $899.73 $463.90 $435.82 $61,417.78 145 $899.73 $460.63 $439.09 $60,978.69 146 $899.73 $457.34 $442.39 $60,536.30 147 $899.73 $454.02 $445.70 $60,090.60 148 $899.73 $450.68 $449.05 $59,641.55 149 $899.73 $447.31 $452.41 $59,189.14 150 $899.73 $443.92 $455.81 $58,733.33 151 $899.73 $440.50 $459.23 $58,274.10 152 $899.73 $437.06 $462.67 $57,811.43 153 $899.73 $433.59 $466.14 $57,345.29 154 $899.73 $430.09 $469.64 $56,875.66 155 $899.73 $426.57 $473.16 $56,402.50 156 $899.73 $423.02 $476.71 $55,925.79 157 $899.73 $419.44 $480.28 $55,445.51 158 $899.73 $415.84 $483.88 $54,961.63 159 $899.73 $412.21 $487.51 $54,474.11 160 $899.73 $408.56 $491.17 $53,982.94 161 $899.73 $404.87 $494.85 $53,488.09 162 $899.73 $401.16 $498.57 $52,989.52 163 $899.73 $397.42 $502.30 $52,487.22 164 $899.73 $393.65 $506.07 $51,981.15 165 $899.73 $389.86 $509.87 $51,471.28 166 $899.73 $386.03 $513.69 $50,957.59 167 $899.73 $382.18 $517.54 $50,440.04 168 $899.73 $378.30 $521.43 $49,918.62 169 $899.73 $374.39 $525.34 $49,393.28 170 $899.73 $370.45 $529.28 $48,864.00 171 $899.73 $366.48 $533.25 $48,330.76 172 $899.73 $362.48 $537.25 $47,793.51 173 $899.73 $358.45 $541.27 $47,252.24 174 $899.73 $354.39 $545.33 $46,706.90 175 $899.73 $350.30 $549.42 $46,157.48 176 $899.73 $346.18 $553.54 $45,603.94 177 $899.73 $342.03 $557.70 $45,046.24 178 $899.73 $337.85 $561.88 $44,484.36 179 $899.73 $333.63 $566.09 $43,918.27 180 $899.73 $329.39 $570.34 $43,347.93 181 $899.73 $325.11 $574.62 $42,773.31 182 $899.73 $320.80 $578.93 $42,194.39 183 $899.73 $316.46 $583.27 $41,611.12 184 $899.73 $312.08 $587.64 $41,023.47 185 $899.73 $307.68 $592.05 $40,431.43 186 $899.73 $303.24 $596.49 $39,834.93 187 $899.73 $298.76 $600.96 $39,233.97 188 $899.73 $294.25 $605.47 $38,628.50 189 $899.73 $289.71 $610.01 $38,018.49 190 $899.73 $285.14 $614.59 $37,403.90 191 $899.73 $280.53 $619.20 $36,784.70 192 $899.73 $275.89 $623.84 $36,160.86 193 $899.73 $271.21 $628.52 $35,532.34 194 $899.73 $266.49 $633.23 $34,899.11 195 $899.73 $261.74 $637.98 $34,261.13 196 $899.73 $256.96 $642.77 $33,618.36 197 $899.73 $252.14 $647.59 $32,970.77 198 $899.73 $247.28 $652.45 $32,318.33 199 $899.73 $242.39 $657.34 $31,660.99 200 $899.73 $237.46 $662.27 $30,998.72 201 $899.73 $232.49 $667.24 $30,331.48 202 $899.73 $227.49 $672.24 $29,659.24 203 $899.73 $222.44 $677.28 $28,981.96 204 $899.73 $217.36 $682.36 $28,299.60 205 $899.73 $212.25 $687.48 $27,612.12 206 $899.73 $207.09 $692.64 $26,919.49 207 $899.73 $201.90 $697.83 $26,221.66 208 $899.73 $196.66 $703.06 $25,518.59 209 $899.73 $191.39 $708.34 $24,810.26 210 $899.73 $186.08 $713.65 $24,096.61 211 $899.73 $180.72 $719.00 $23,377.61 212 $899.73 $175.33 $724.39 $22,653.21 213 $899.73 $169.90 $729.83 $21,923.39 214 $899.73 $164.43 $735.30 $21,188.09 215 $899.73 $158.91 $740.82 $20,447.27 216 $899.73 $153.35 $746.37 $19,700.90 217 $899.73 $147.76 $751.97 $18,948.93 218 $899.73 $142.12 $757.61 $18,191.32 219 $899.73 $136.43 $763.29 $17,428.03 220 $899.73 $130.71 $769.02 $16,659.01 221 $899.73 $124.94 $774.78 $15,884.23 222 $899.73 $119.13 $780.59 $15,103.64 223 $899.73 $113.28 $786.45 $14,317.19 224 $899.73 $107.38 $792.35 $13,524.84 225 $899.73 $101.44 $798.29 $12,726.55 226 $899.73 $95.45 $804.28 $11,922.27 227 $899.73 $89.42 $810.31 $11,111.96 228 $899.73 $83.34 $816.39 $10,295.58 229 $899.73 $77.22 $822.51 $9,473.07 230 $899.73 $71.05 $828.68 $8,644.39 231 $899.73 $64.83 $834.89 $7,809.50 232 $899.73 $58.57 $841.15 $6,968.34 233 $899.73 $52.26 $847.46 $6,120.88 234 $899.73 $45.91 $853.82 $5,267.06 235 $899.73 $39.50 $860.22 $4,406.84 236 $899.73 $33.05 $866.67 $3,540.16 237 $899.73 $26.55 $873.17 $2,666.99 238 $899.73 $20.00 $879.72 $1,787.27 239 $899.73 $13.40 $886.32 $900.94 240 $899.73 $6.76 $892.97 $7.97