Do well does not have a made-into the function so you’re able to calculate the remaining harmony immediately after an installment, but we can do that without difficulty adequate with a straightforward formula. Take first balance with no prominent paid in the newest first fee and realize that the rest balance once you to definitely percentage is actually \$199,:

Carrying out a keen Amortization Plan

Due to the fact listed at first, a keen amortization agenda is actually a listing of for every percentage and the newest summary of attract, dominating, and leftover harmony.