Example of Amortization Schedule Consider a $30,000 fully amortizing loan with a term of five years and a fixed interest rate of 6%. Payments are made on a monthly basis. Build an amortization table or schedule for the first 3 months, the 6 month and the last 3 months. Months Monthly Payment Interest Paid Principal Paid Remaining Principal Balance - How much principal and how much interest are paid in the first year? o Double check your result