each month the interest is:
principle * monthly rate
next month principle is this plus principle minus monthly payment.
i.e. principle in first several months:
300000
300000 * (1 + rate/12) - x
(300000 * (1 + rate/12) - x) * (1+rate/12) - x
((300000 * (1 + rate/12) - x) * (1+rate/12) - x) * (1+rate/12) - x
...
after 360 months the principle should be 0.
now solve this to get x... hohoho
d***t 发帖数: 253
2
why don't you just use the caculator on bankrate.com, it's accurate and even
provides a detailed amortization table telling you how much pricipals and
intereste you will be paying for each month and in total. And you can also
try input extra payments on top of the required monthly payment to see how
sooner your mortgage can be paid off.
link: http://www.bankrate.com/brm/mortgage-calculator.asp?nav=mtg&page=calc_home
some
up
be
【在 s**********i 的大作中提到】 : each month the interest is: : principle * monthly rate : next month principle is this plus principle minus monthly payment. : i.e. principle in first several months: : 300000 : 300000 * (1 + rate/12) - x : (300000 * (1 + rate/12) - x) * (1+rate/12) - x : ((300000 * (1 + rate/12) - x) * (1+rate/12) - x) * (1+rate/12) - x : ... : after 360 months the principle should be 0.
