$50,000
5%
| Flat interest rate | Reducing balance interest rate | |
| Monthly EMI | $486 | $395 |
| Total interest | $37,500 | $21,171 |
| Total amount | $87,500 | $71,171 |
Interest amount
Total amount
Flat
Reducing
Amortization schedule breakdown
This table lists how much principal and interest are paid in each scheduled mortgage payment
| Year | Principal | Interest | Remaining balance |
|---|---|---|---|
| 2025 | $3,333 | $2,500 | $46,667 |
| 2026 | $3,333 | $2,500 | $43,333 |
| 2027 | $3,333 | $2,500 | $40,000 |
| 2028 | $3,333 | $2,500 | $36,667 |
| 2029 | $3,333 | $2,500 | $33,333 |
| 2030 | $3,333 | $2,500 | $30,000 |
| 2031 | $3,333 | $2,500 | $26,667 |
| 2032 | $3,333 | $2,500 | $23,333 |
| 2033 | $3,333 | $2,500 | $20,000 |
| 2034 | $3,333 | $2,500 | $16,667 |
| 2035 | $3,333 | $2,500 | $13,333 |
| 2036 | $3,333 | $2,500 | $10,000 |
| 2037 | $3,333 | $2,500 | $6,667 |
| 2038 | $3,333 | $2,500 | $3,333 |
| 2039 | $3,333 | $2,500 | $0 |