Amortization Schedule

The same payment schedule is recomputed in the trust boundary and displayed as a table.

highlighted = computed this step

Exact vs rounded payment

The exact level payment is 13310000/331 cents with 10%/period; the rounded display is $402.11.

A = \frac{Pr}{1-(1+r)^{-3}}=13310000/331 \approx \$402.11

Period 1: payment $402.11, interest $100.00, principal $302.11, balance $697.89. Period 2: payment $402.11, interest $69.79, principal $332.32, balance $365.57. Period 3: payment $402.13, interest $36.56, principal $365.57, balance $0.00.

\$402.11\$402.11\$402.13

End condition

Final principal sum is exactly $1,000.00, and the table recomputed in the model retires the balance to $0.00. Because each displayed payment is rounded to the cent, the three rounded $402.11 payments leave $0.02 residual. The final payment absorbs it as $402.13 instead of $402.11; this retires the balance to exactly $0.00. Round-half-up to the cent is used for display. Institutions or regulations may use different rules (for example, banker's rounding or round-half-to-even). The table is also an interest/principal decomposition only, so fees and taxes are not included.

\text{Principal sum }\$1,000.00\text{, final balance }\$0.00\text{, no fees/taxes modeled, residual handled in final payment.}