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Mortage Calculations
On Tue, 4 Apr 2006 13:54:52 +0200, "Niek Otten"
First try to make sure what the term is exactly. True, same here, my calcs came within $10 of the banks. Interest Rate 7.50% Period for interest 1 Years of loan 20 Value of Loan $58,655.28 Lump Sum Payment $5,000.00 Current Interest Payment -$332 =IPMT(E49/12, E50*3, E51, E52) After Lump Sum Payment# -$304 =IPMT(E49/12,E50*3, E51,(E52-E53)) Savings over 6 mnth of making payment -$170 After Penalty Payment $30 Has been fun, thanks Images of home (NZ) http://www.titahi-bay.co.nz/home What we are up to in the UK http://www.titahi-bay.co.nz |
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