on $100,000.00 dollars, how much does 2.25% amount to?

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Icon Mini Profile perdita





Joined: 08 Sep 2008

Posts: 1

1.00 Dollars($)
Post Posted: Mon Sep 08, 2008 12:29 pm    Post subject: on $100,000.00 dollars, how much does 2.25% amount to?
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the bank will pay us 2.25% on $100,000.00 dollars, but we don't know what that amount is, can you calculate it for us?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 12160
Location: Nevada
1221.50 Dollars($)
Post Posted: Mon Sep 08, 2008 11:47 pm    Post subject:
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Hi perdita,

Welcome to forums.

I think you're going for an ARM given that the rate looks too low, isn't it? I believe it's the introductory rate on your loan. If it's an ARM, you can use the ARM Calculator for calculating how much you need to pay monthly.

I could have done the calculations, but the Calculator requires some fields which you haven't provided here.

Thanks
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