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Mortage Calculations
Hi Team
I wish to work out the formula used by banks to calculate mortgage payments... Here is the data from my bank statement: Interest Mortgage Monthly Payment Interest Paid 7.50% $59,462.00 $483.00 $379.00 20 year term ( I think) I will then use excel to work out what benifit wil lbe gained in making a lump sum payment on the fixed loan ver the penilty payment for doing so on a fixed loan... - dont do this for me, thats my project! I'm just after info on how payments are calclated chers john 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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