What are you looking for? 

Amortization Schedule

Author Message
Icon Mini Profile Sam
Site Admin
Sam

Joined: 21 May 2005

Posts: 198
Location: CALIFORNIA


92.34 Dollars($)

PostPosted: Tue Mar 30, 2004 6:02 am    Post subject: Amortization Schedule

Amortization Schedule is a schedule prepared for the payment of a mortgage loan. It is a detailed timetable showing-
  • The beginning principal amount.
  • Period payments.
  • Amount of each interest and principal payment.
  • The remaining last balance.
For example, Shawn has taken a loan of $ 50,000 at an interest of 7.5% per annum for the period of 1 years and 3 months. So, his monthly installment comes to $ 3502.42.


Payment No. DatePrincipal Paid Interest Paid Amount Balance
01.2005-08-013189.92 312.5046497.58
02.2005-09-01 3211.81290.6142995.15
03.2005-10-013233.70268.72 39492.72
04.2005-11-013255.59246.8335990.31
05.2005-12-013277.48224.9432487.89
06.2006-01-01 3299.37203.0528985.46
07.2006-02-013321.26181.16 25483.04
08.2006-03-013343.15159.2721980.62
09.2006-04-013365.04137.3818478.20
10.2006-05-01 3386.93115.4914975.77
11. 2006-06-013408.8293.6011473.35
12.2006-07-01 3430.7171.717970.93
13.2006-08-013452.6049.82 4468.51
14.2006-09-013474.4927.93966.08
15.2006-10-013496.386.04Paid


Calculate it yourself
 
image
jeanne
Guest








0.10 Dollars($)

PostPosted: Thu Aug 24, 2006 11:07 am    Post subject: amortize interest

How is annual interest calculated on a loan
 
image
Icon Mini Profile colin
Moderator
colin

Joined: 30 Jun 2006

Posts: 602
Location: Waltham, Massachusetts


112.61 Dollars($)

PostPosted: Thu Aug 24, 2006 11:14 am    Post subject:

Hi,

Can you provide some more details, so that the answer can be more specific.

Thanks
 
image
Icon Mini Profile sara

sara

Joined: 05 Jul 2006

Posts: 934
Location: New Brunswick, New Jersey


178.88 Dollars($)

PostPosted: Fri Aug 25, 2006 12:00 am    Post subject: RE:

Hi Jeanne,

The annual interest rate is calculated by considering the factors given in http://www.mortgagefit.com/rate-calculated.html .

Thanks,

Sara.
 
image
Icon Mini Profile helping_user

helping_user

Joined: 31 Mar 2006

Posts: 661
Location: Hawaii


123.27 Dollars($)

PostPosted: Fri Aug 25, 2006 2:00 am    Post subject:

Hi Jeanne,

The annual interest on a loan is calculated compoundly.

To calculate the amount, always we are applying the formula
Quote:
A=P(1+r/n)^nt

Where,
P = Principal
r = rate of interest
n = Number of times the interest is compounded per year.
t = loan term

Thanks
 
image
Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Helpful References
Mortgage Guide
Mortgage Terminology
Industry News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool
Mortgage Planner
Simple Budgeting Tool


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit Live Help

Explore the lender near you

Google Map Image

MF Talk

 
About Us  | Contact Us  | Our Blog  | Privacy Policy  | Testimonials  | Website Tools  | RSS Feeds  | Site Map 
We have chosen to apply the Creative Commons Attribution License to all works we publish.
This work is licensed under cc by 2.0