calculate mortgage payments excel
Need Mortgage Excel formula?
C2-Loan: 750.000 C3-rate: 6.5% C4-years: 15 C5-Monthly payment: $ 6533 paid C8 Ending Balance: 719,451 D8-sum loan: 78,399 Since this information, what formula would calculate the interest paid on this year? Or just a normal solve algebra equation, it would be nice too.
There are two methods of calculation of interest with the data you have and give them answers, are paid from $ 3 different. The difference is probably due to rounding to an actual $ 6533.25 monthly payment to $ 6533 monthly payment in the cell. The two formulas = C7 + C8-C3 [= Balance + on loan - provide loan] (= $ 47,850) and C7 = + (C6 * 12)-C3 [= Balance + (Monthly payment * 12) - Loan] (= $ 47,847)
Categories: Mortgaqe