Financial modeling is the task of building an abstract representation (a model) of a real world financial situation.
An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.
Original or expected balance for your mortgage/loan.
The number of years over which you will repay this loan.
Annual fixed interest rate for this loan.
Includes principal payment and interest payment (PI). While each periodic payment is the same amount early in the schedule, the majority of each payment is interest; later in the schedule, the majority of each payment covers the loan's principal.
Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.