Amortization Schedule Promissory Note
Amortization Schedule Promissory Note
Date: January 1, 2060
Loan Number: 2060-001
Borrower Information:
Name: John Smith
Address: 123 Maple Lane, Springfield, IL 62701
Phone Number: (555) 123-4567
Lender Information:
Name: [Your Company Name]
Address: [Your Company Address]
Email Address: [Your Company Email]
Loan Amount: $100,000.00
Interest Rate: 5.0% per annum
Term of Loan: 30 years (360 months)
Monthly Payment: $536.82
Loan Purpose: Personal Loan for Home Improvement
Promissory Note
For value received, the undersigned Borrower promises to pay to the order of Lender the principal sum of One Hundred Thousand Dollars ($100,000.00), with interest at the rate of 5.0% per annum, payable in equal monthly installments of $536.82, commencing on February 1, 2060, and continuing on the first day of each month thereafter until the principal and all interest due are paid in full.
Payment Schedule:
|
Payment # |
Payment Date |
Payment Amount |
Principal Paid |
Interest Paid |
Remaining Balance |
|---|---|---|---|---|---|
|
1 |
Feb 1, 2060 |
$536.82 |
$236.82 |
$300.00 |
$99,763.18 |
|
2 |
Mar 1, 2060 |
$536.82 |
$237.43 |
$299.39 |
$99,525.75 |
|
3 |
Apr 1, 2060 |
$536.82 |
$238.05 |
$298.77 |
$99,287.70 |
|
4 |
May 1, 2060 |
$536.82 |
$238.67 |
$298.15 |
$99,048.03 |
|
5 |
Jun 1, 2060 |
$536.82 |
$239.29 |
$297.53 |
$98,808.74 |
|
... |
... |
... |
... |
... |
... |
|
360 |
Jan 1, 2090 |
$536.82 |
$533.61 |
$3.21 |
$0.00 |
Late Payment: If any payment is not received within 15 days of the due date, a late fee of $50.00 will be assessed.
Prepayment: The Borrower may prepay this loan in full or in part at any time without penalty. Any prepayment will be applied first to accrued interest and then to the principal balance.
Governing Law: This Promissory Note shall be governed by and construed following the laws of the State of Illinois.
Borrower's Signature:
John Smith
Date: January 1, 2060
Lender's Signature:
[Your Name]
Authorized Representative
[Your Company Name]
Date: January 1, 2060
