|
Mortgage Calculator – Version 10/98
All Data Entry cells show up in red.
This calculator figures the Principle & Interest payment on any term
mortgage. Enter the loan amount, the interest rate and the term of
the loan. The principle & interest payment will be indicated for you. Keep in
mind that your taxes & insurance payments will be over and above this amount
and will vary from property to property. If you want to evaluate the effect of an extra
monthly payment you can enter that also and the calculator tells you at what point the
loan will be paid off. Another feature of this calculator is the ability to enter any year
of the loan term and see the total interest paid from day one through that year, as well
as the total principle paid, total Principle & Interest paid, and the principle paid
through that same time frame. You can also determine the interest paid in any given year,
for example by subtracting the interest paid through year 11 from the interest paid
through year 10. |
