Loan Amortization Calculator

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

Enjoy the picturesque setting of this luxury property with beautiful uninterrupted views of the ocean and Palm Cay Marina.

This fully furnished, luxury 3 bedroom, 3.5 bathroom penthouse blends elegant and clean contemporary design with livability and warmth in an open two-story design penthouse, featuring a private rooftop terrace and plunge pool.

Palm Cay is a one-of-a-kind community located on the southeastern shore of New Providence, centered on a full-service marina, housing vessels from 18' to 110' and featuring a Members Beach Club with luxury cabanas, 80' lap pool, stunning beach bar and restaurant.

There is always something fun and entertaining happening.

KITCHEN
"¢ Stainless steel sink
"¢ Contemporary-style custom kitchen
"¢ Quartz countertops
"¢ Easy-close drawers
"¢ Porcelain Tiles
BATHROOM
"¢ Designer bath fixtures
"¢ Walk-in showers
"¢ Granite countertops
"¢ Kohler toilets
"¢ Vessel sinks
"¢ Marble tiles
"¢ Double vanity
INTERIOR
"¢ 9 foot ceilings
"¢ Dual Zone A/C
"¢ Walk-in closets
"¢ Porcelain tiles throughout
"¢ Crown molding
"¢ 6 inch base boards
"¢ Recessed Lighting
"¢ Ceiling fans
EXTERIOR
"¢ Spacious balconies
"¢ Private Rooftop Terrace with plunge pool and outdoor shower
"¢ Landscaped Gardens
"¢ Ample parking
"¢ 24-hour gated and patrolled community
"¢ Marina / Waterside Location
"¢ High impact doors & windows
WORLD CLASS AMENITIES
"¢ Private Beach
"¢ Pool
"¢ Marina (Charters available)
"¢ Private Clubhouse
"¢ Dockside Cafe
"¢ Tennis Courts
"¢ Children's Play Areas