The narrator explains why he did what he did and talks himself (and his murderous processes) up. He insists he is sane and characterizes himself as wise and cautious.
More Rising Action / Mini-Climax
The narrator reveals that the old man's eye haunted him, that it gives him the chills. It tormented him day and night. He was entirely fine with the man himself, but the man's eye appalled him.
Even More Rising Action
The narrator, night after night, attempts to kill the man and eliminate his eye, but he never succeeds. Both eyes were always closed, making his task impossible.
I did it! I surrender!
The old man is very petrified as he barely hears his death on its way. The narrator proceeds to kill the man, and the old man releases a terrorizing shriek. The killer places the bed over him, ending the man's life.
After the old man is murdered and buried under the floorboards, the killer rests his mind until, soon after, he hears a knock on the door from three policemen. Laid back, he answers it gleefully and serves the men. They ask to search the house and he encourages them.
The killer's conscience attacks him, forcing him to feel guilty and shameful. He is overtaken by the feeling and finally confesses to the cops, who found no evidence to suspect anything, that he had murdered the man and that the corpse was buried under the floor.