Re: online calculator for Mortgage# Living
s*i
1 楼
each month the interest is:
principle * monthly rate
next month principle is this plus principle minus monthly payment.
i.e. principle in first several months:
300000
300000 * (1 + rate/12) - x
(300000 * (1 + rate/12) - x) * (1+rate/12) - x
((300000 * (1 + rate/12) - x) * (1+rate/12) - x) * (1+rate/12) - x
...
after 360 months the principle should be 0.
now solve this to get x... hohoho
principle * monthly rate
next month principle is this plus principle minus monthly payment.
i.e. principle in first several months:
300000
300000 * (1 + rate/12) - x
(300000 * (1 + rate/12) - x) * (1+rate/12) - x
((300000 * (1 + rate/12) - x) * (1+rate/12) - x) * (1+rate/12) - x
...
after 360 months the principle should be 0.
now solve this to get x... hohoho