A loan amortization schedule is a complete table of periodic loan payments, showing the principal amount and the amount of interest on each payment until the loan is repaid at the end of the term. The total amount of each periodic payment is the same for each period.
However, at the beginning of the schedule, the majority of each payment is due on interest because the initial outstanding loan balance, which is the basis for calculating interest, is large; In subsequent schedules, the majority of each repayment covers the principal amount of the loan as the outstanding loan balance decreases over time as repayment continues.
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