Amortization table for a loan of 1000 units at interest rate of 10% per period with payments of 500 units
From this you can see that there will be 3 payments, the last one being of 176 units.
The cost of the loan is 176 units.
You can make payments to be of 500 units + the interest for that period:
There are now 2 payments, one of 600 units and one of 550 units. The cost of the loan is 150 units. Now, if you make quarterly payments of 150 units on a loan of 1000 units at a stated rate of 12%, the payments are increased yearly by 10 units. The amortization table is computed as follows:
There were 8 payments altogether with a loan cost of 138 units. For obtaining just the first year, you can make use of the nperiods argument:
It is also possible to display the amortization table as an embedded datatable with the output = embed option: