📚 How to calculate monthly mortgage amortization payments (Question 3)

📚 How to calculate monthly mortgage amortization payments (Question 3). Ms Excell Loan Amortization

📚 How to calculate monthly mortgage amortization payments (Question 3) video duration 6 Minute(s) 15 Second(s), published by Study Force on 19 10 2017 - 16:13:58.

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Q
Determine the Mortgage amortization schedule calculator Amortization is the reimbursement of essential from booked home loan installments that surpass the enthusiasm due.

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Q. Determine the monthly payments on each mortgage. Assume each payment is compounded monthly.

Principal Borrowed Interest Rate Amortization Period (years) Monthly Payments Total Payments
a) 200,000 5.25% 15
b) 200,000 6.75% 20
c) 200,000 8.5% 25

a) What do you notice about the interest rate as the amortization period increases?

b) What do you noticed about the monthly payments as the amortization period increases?

c) What do you notice about the total payments as amortization years increase.

What you'll need:

Present value (PV)

PV=R[〖1−(1+i)〗^(−n) ]/i

Solving for R gives us:

R=(PV∙i)/[〖1−(1+i)〗^(−n) ]

Where:

PV=present value amount
R=regular deposit/payment
i=interest rate per compounding period
n=total number of deposits