Can a lender continue to charge interest based on an old amortization schedule?
Q. I took out a loan recently for $28,000, amortized over 10 years. Payments are approximately $340 per month. I have not made my first payment yet and was wondering if I made a payment of $20,000 if the lender would have to redo the amortization schedule and start charging interest on the new balance of $8,000 or can they continue to charge interest the way the loan was originally written? Are there any laws regarding this? There are no prepayment penalties on this loan.
Asked by Jeffrey B - Tue Oct 9 01:10:52 2007 - - 2 Answers - 0 Comments
A. If your loan is a "simple interest" loan (and it probably is), then you don't need a new amortization schedule. When you pay the $20,000 on your loan, just look at the existing amortization schedule and find the line where your remaining balance is $8,000. That's how your next payment will be applied. It's just as though you "skipped ahead" on the amortization schedule. You'll still only pay interest on the remaining $8,000 balance. (I'm using round numbers in the following explanation) In your specific example, paying $20,000 right away will make your remaining balance $8,000. Your next regular monthly payment of $340 will be almost the equivalent of payment number 95 on your loan, where $284 of your payment will be principle and $56… [cont.]
Answered by likepepsi - Tue Oct 9 06:47:20 2007
Q. I took out a loan recently for $28,000, amortized over 10 years. Payments are approximately $340 per month. I have not made my first payment yet and was wondering if I made a payment of $20,000 if the lender would have to redo the amortization schedule and start charging interest on the new balance of $8,000 or can they continue to charge interest the way the loan was originally written? Are there any laws regarding this? There are no prepayment penalties on this loan.
Asked by Jeffrey B - Tue Oct 9 01:10:52 2007 - - 2 Answers - 0 Comments
A. If your loan is a "simple interest" loan (and it probably is), then you don't need a new amortization schedule. When you pay the $20,000 on your loan, just look at the existing amortization schedule and find the line where your remaining balance is $8,000. That's how your next payment will be applied. It's just as though you "skipped ahead" on the amortization schedule. You'll still only pay interest on the remaining $8,000 balance. (I'm using round numbers in the following explanation) In your specific example, paying $20,000 right away will make your remaining balance $8,000. Your next regular monthly payment of $340 will be almost the equivalent of payment number 95 on your loan, where $284 of your payment will be principle and $56… [cont.]
Answered by likepepsi - Tue Oct 9 06:47:20 2007
amortization schedule?
Q. what is it? explain please
Asked by Joanna N - Tue Jun 17 16:26:52 2008 - - 1 Answers - 0 Comments
A. It is the schedule of what amount you have to charge as an expense on a regular basis ( e.g. monthly) including the principal and interest of entire life of such loan.
Answered by engine - Tue Jun 17 20:14:29 2008
Q. what is it? explain please
Asked by Joanna N - Tue Jun 17 16:26:52 2008 - - 1 Answers - 0 Comments
A. It is the schedule of what amount you have to charge as an expense on a regular basis ( e.g. monthly) including the principal and interest of entire life of such loan.
Answered by engine - Tue Jun 17 20:14:29 2008
The final payment on a loan amortization schedule?
Q. In my math class I have to fill out an amortization schedule for 24 months with the following information: Principal: $15000 rate 6.25% term: 2 years payments of: $666.50 I've filled in all the information for the first 23 payments of $666.50 and I now have a balance of $147.52. In order to make my balance zero, how much money, before interest, should my last payment be?
Asked by sleeper - Thu Nov 5 00:08:14 2009 - - 3 Answers - 0 Comments
A. All 24 payments are equal. Loan Amortization Schedule Loan Amount 15,000.00 Interest Rate 6.2500% Term in Years 2.00 Periods 24 --- # Payment Interest Principal Balance --- 1 666.50 78.13 588.37 14,411.63 2 666.50 75.06 591.44 13,820.19 3 666.50 71.98 594.52 13,225.67 4 666.50 68.88 597.62 12,628.05 5 666.50 65.77 600.73 12,027.32 6 666.50 62.64 603.86 11,423.46 7 666.50 59.50 607.00 10,816.46 8 666.50 56.34 610.16 10,206.30 9 666.50 53.16 613.34 9,592.96 10 666.50 49.96 616.54 8,976.42 11 666.50 46.75 619.75 8,356.67 12 666.50 43.52 622.98 7,733.69 13 666.50 40.28 626.22 7,107.47 14 666.50 … [cont.]
Answered by Susi C - Thu Nov 5 16:30:56 2009
Q. In my math class I have to fill out an amortization schedule for 24 months with the following information: Principal: $15000 rate 6.25% term: 2 years payments of: $666.50 I've filled in all the information for the first 23 payments of $666.50 and I now have a balance of $147.52. In order to make my balance zero, how much money, before interest, should my last payment be?
Asked by sleeper - Thu Nov 5 00:08:14 2009 - - 3 Answers - 0 Comments
A. All 24 payments are equal. Loan Amortization Schedule Loan Amount 15,000.00 Interest Rate 6.2500% Term in Years 2.00 Periods 24 --- # Payment Interest Principal Balance --- 1 666.50 78.13 588.37 14,411.63 2 666.50 75.06 591.44 13,820.19 3 666.50 71.98 594.52 13,225.67 4 666.50 68.88 597.62 12,628.05 5 666.50 65.77 600.73 12,027.32 6 666.50 62.64 603.86 11,423.46 7 666.50 59.50 607.00 10,816.46 8 666.50 56.34 610.16 10,206.30 9 666.50 53.16 613.34 9,592.96 10 666.50 49.96 616.54 8,976.42 11 666.50 46.75 619.75 8,356.67 12 666.50 43.52 622.98 7,733.69 13 666.50 40.28 626.22 7,107.47 14 666.50 … [cont.]
Answered by Susi C - Thu Nov 5 16:30:56 2009
Amortization schedule for four months with only 4 payments?
Q. I owe 43300, and will pay monthly payments of 11079.89 for four months. What will my amoritization schedule look like with a beginning balance of 43300, and 11079.89 monthly payments for four months to pay it off?
Asked by senor_cheese04 - Mon Apr 14 20:18:11 2008 - - 1 Answers - 0 Comments
A. What's the interest rate?
Answered by from me to you - Wed Apr 16 14:43:13 2008
Q. I owe 43300, and will pay monthly payments of 11079.89 for four months. What will my amoritization schedule look like with a beginning balance of 43300, and 11079.89 monthly payments for four months to pay it off?
Asked by senor_cheese04 - Mon Apr 14 20:18:11 2008 - - 1 Answers - 0 Comments
A. What's the interest rate?
Answered by from me to you - Wed Apr 16 14:43:13 2008
Does anyone know how to create an amortization schedule on excel spreadsheet to keep track of car payments?
Q. I'd like the excel spreadsheet to have a function that also accounts for extra payments made to my loan. Thanks!
Asked by smiley - Tue Jun 10 18:30:49 2008 - - 1 Answers - 0 Comments
A. When you're in Excel, click on Help and select Microsoft Office Online. Search for 'loan amortization' and you'll see some templates to chose from (including one w/extra payments)
Answered by just_the_facts_ma'am - Tue Jun 10 18:52:00 2008
Q. I'd like the excel spreadsheet to have a function that also accounts for extra payments made to my loan. Thanks!
Asked by smiley - Tue Jun 10 18:30:49 2008 - - 1 Answers - 0 Comments
A. When you're in Excel, click on Help and select Microsoft Office Online. Search for 'loan amortization' and you'll see some templates to chose from (including one w/extra payments)
Answered by just_the_facts_ma'am - Tue Jun 10 18:52:00 2008
How can I calculate an amortization schedule?
Q. let's say I'm looking into buying a car for 22k, with 2k down and the remaining 20k I will pay with 7% monthly interest. can someone help me with these calculations? thanks. I need to know what's is the principle and the interest for a 72 months installments with 7% interest.
Asked by Blizzzz - Fri Aug 10 15:54:25 2007 - - 3 Answers - 0 Comments
A. Principal borrowed: $2000.00 Annual Payments: 12 Total Payments: 84 Annual interest rate: 7.00% Periodic interest rate: 0.5833% Regular Payment amount: $301.85 Total Repaid: $25355.40 Total Interest Paid: $5355.40 Interest as percentage of Principal: 26.777% It would be in your best interest to not buy new!! think about it like this over 7 years you are going to spend 30K on a car that in the end will be worth maybe 4500 so you are losing over 25,000 on the deal! Instead buy a 1 or 2-year-old model for half the price and with your 2K down you can get 7% for only 60 months Principal borrowed: $11500.00 Annual Payments: 12 Total Payments: 60 Annual interest rate: 7.00% Periodic interest rate: 0.5833% Regular Payment amount: $227.71 … [cont.]
Answered by mbafromuiu - Fri Aug 10 16:23:49 2007
Q. let's say I'm looking into buying a car for 22k, with 2k down and the remaining 20k I will pay with 7% monthly interest. can someone help me with these calculations? thanks. I need to know what's is the principle and the interest for a 72 months installments with 7% interest.
Asked by Blizzzz - Fri Aug 10 15:54:25 2007 - - 3 Answers - 0 Comments
A. Principal borrowed: $2000.00 Annual Payments: 12 Total Payments: 84 Annual interest rate: 7.00% Periodic interest rate: 0.5833% Regular Payment amount: $301.85 Total Repaid: $25355.40 Total Interest Paid: $5355.40 Interest as percentage of Principal: 26.777% It would be in your best interest to not buy new!! think about it like this over 7 years you are going to spend 30K on a car that in the end will be worth maybe 4500 so you are losing over 25,000 on the deal! Instead buy a 1 or 2-year-old model for half the price and with your 2K down you can get 7% for only 60 months Principal borrowed: $11500.00 Annual Payments: 12 Total Payments: 60 Annual interest rate: 7.00% Periodic interest rate: 0.5833% Regular Payment amount: $227.71 … [cont.]
Answered by mbafromuiu - Fri Aug 10 16:23:49 2007
How does a 5 year note with a 10 year amortization schedule work?
Q. How does a 5 year note with a 10 year amortization schedule work?
Asked by rico1113 - Tue Jul 21 08:41:42 2009 - - 1 Answers - 0 Comments
A. It means that the payments are figured to pay out in 10 years, but at the end of 5 you will owe the balance in full - it is also known as a balloon payment.
Answered by knowitall - Tue Jul 21 08:45:04 2009
Q. How does a 5 year note with a 10 year amortization schedule work?
Asked by rico1113 - Tue Jul 21 08:41:42 2009 - - 1 Answers - 0 Comments
A. It means that the payments are figured to pay out in 10 years, but at the end of 5 you will owe the balance in full - it is also known as a balloon payment.
Answered by knowitall - Tue Jul 21 08:45:04 2009
Is time dialation taken into consideration in the amortization schedule when financing fast moving objects?
Q. such as satellites?
Asked by Ben K - Wed Jun 13 21:33:49 2007 - - 1 Answers - 0 Comments
A. Well. Interesting question. So far satellites are not fast enough moving for there to be significant time dialation. Now for those doing the financing, I expect they would remain on Earth and therefore the time dialation to them would not matter. They would still want an Earth based return, since that is there frame of reference. Now let us suppose just for a moment that instead of Earth bound investors, we instead have investors who are stationed on a space ship heading for a nearby star at 0.95 the spead of light and that they had to make an investment in the space ship in order to obtain passage. To them time dialation would have to be taken into account in figuring their roi. But then of course their roi is getting there. If… [cont.]
Answered by muncie birder - Wed Jun 13 22:03:09 2007
Q. such as satellites?
Asked by Ben K - Wed Jun 13 21:33:49 2007 - - 1 Answers - 0 Comments
A. Well. Interesting question. So far satellites are not fast enough moving for there to be significant time dialation. Now for those doing the financing, I expect they would remain on Earth and therefore the time dialation to them would not matter. They would still want an Earth based return, since that is there frame of reference. Now let us suppose just for a moment that instead of Earth bound investors, we instead have investors who are stationed on a space ship heading for a nearby star at 0.95 the spead of light and that they had to make an investment in the space ship in order to obtain passage. To them time dialation would have to be taken into account in figuring their roi. But then of course their roi is getting there. If… [cont.]
Answered by muncie birder - Wed Jun 13 22:03:09 2007
Loan A is paid monthly on the 5th of the month based on an amortization schedule.?
Q. (Continued) Loan B interest and principal will be paid at maturity in 15 months. Interest on both loans is accrued at the end of the month. Which adjusting journal entry(entries) is(are) reversed as of the beginning of the following month? a. Loan B only should be reversed. b. Loan A only should be reversed. c. Both interest accruals should be reversed. d. Neither interest accrual should be reversed. I chose A, and it was wrong. Thanks for your help! Appreciate that!
Asked by Czarina - Mon Dec 7 21:52:24 2009 - - 0 Answers - 0 Comments
A. B. Loan A only should be reversed You accrue interest on loan A from the 5th to the end of the month. Then, on the 5th, you get paid. At that time you would record the interest earned for the full monthly period ending on the 5th. Since you do that, the entry to record the interest earned from the 5th through the end of the previous month needs to be reversed. On loan B, you record the interest earned each month, but since no payments are made, no reversal is necessary.
Answered by Marc - Mon Dec 7 22:18:01 2009
Q. (Continued) Loan B interest and principal will be paid at maturity in 15 months. Interest on both loans is accrued at the end of the month. Which adjusting journal entry(entries) is(are) reversed as of the beginning of the following month? a. Loan B only should be reversed. b. Loan A only should be reversed. c. Both interest accruals should be reversed. d. Neither interest accrual should be reversed. I chose A, and it was wrong. Thanks for your help! Appreciate that!
Asked by Czarina - Mon Dec 7 21:52:24 2009 - - 0 Answers - 0 Comments
A. B. Loan A only should be reversed You accrue interest on loan A from the 5th to the end of the month. Then, on the 5th, you get paid. At that time you would record the interest earned for the full monthly period ending on the 5th. Since you do that, the entry to record the interest earned from the 5th through the end of the previous month needs to be reversed. On loan B, you record the interest earned each month, but since no payments are made, no reversal is necessary.
Answered by Marc - Mon Dec 7 22:18:01 2009
I am looking for an amortization schedule that I can build myself, with the payments that I have already made.
Q. I have fallen behind in my house payments and am just now catching up, and I want to build my own amortization schedule from the full payments that I have made and the (not so full) payments that I have made to see where I am at paying off my house...Please help!
Asked by susan - Mon Aug 4 15:11:03 2008 - - 2 Answers - 0 Comments
A. If youo have any experience in using Excel, there is a formula that can do this for you. I have a massive spread sheet that keeps track of all our mortgages. If I make an extra payment, I just put it in the "Extra Payment" column.
Answered by C S - Sat Aug 9 21:57:24 2008
Q. I have fallen behind in my house payments and am just now catching up, and I want to build my own amortization schedule from the full payments that I have made and the (not so full) payments that I have made to see where I am at paying off my house...Please help!
Asked by susan - Mon Aug 4 15:11:03 2008 - - 2 Answers - 0 Comments
A. If youo have any experience in using Excel, there is a formula that can do this for you. I have a massive spread sheet that keeps track of all our mortgages. If I make an extra payment, I just put it in the "Extra Payment" column.
Answered by C S - Sat Aug 9 21:57:24 2008
Where Can i find Amortization Schedule(On Investment)?
Q. I would also like to know about the working of IRR (internal Rate of Return) on Investments. How IRR is calculated if my investment is $100,000/- and my Maturity is 10 years @ 21.06%(on maturity). (Amortization schedule)
Asked by Hasham - Fri Oct 24 11:06:49 2008 - - 1 Answers - 0 Comments
Q. I would also like to know about the working of IRR (internal Rate of Return) on Investments. How IRR is calculated if my investment is $100,000/- and my Maturity is 10 years @ 21.06%(on maturity). (Amortization schedule)
Asked by Hasham - Fri Oct 24 11:06:49 2008 - - 1 Answers - 0 Comments
Can anyone help me do an amortization schedule for a loan in the C program?
Q. I am not doing that great in getting this stuff from my Cprograming class and there are thing that I dont get...like how do i present it in tabular formvertically ... if you need more info tell me and I will get back to you... thanks in advance!!!
Asked by Jessica H - Mon Oct 15 17:55:12 2007 - - 1 Answers - 0 Comments
A. Does not look easy. You may contact a c expert at
Answered by Homework Help - Tue Oct 16 02:18:18 2007
Q. I am not doing that great in getting this stuff from my Cprograming class and there are thing that I dont get...like how do i present it in tabular formvertically ... if you need more info tell me and I will get back to you... thanks in advance!!!
Asked by Jessica H - Mon Oct 15 17:55:12 2007 - - 1 Answers - 0 Comments
A. Does not look easy. You may contact a c expert at
Answered by Homework Help - Tue Oct 16 02:18:18 2007
AMORTIZATION SCHEDULE - PLEASE HELP!!!?
Q. You purchased a new vehicle for $34,700 on May 26, 2009. Your first monthly payment will be due on July 2, 2009. The interest rate is 3.5% per year and the time period is 4 years. Create an amortization schedule. It should have the following columns: Payment number, Payment amount, Interest, Paid principal, Unpaid balance. The monthly payments will all be the same.
Asked by Jane - Fri Jan 1 19:56:12 2010 - - 3 Answers - 0 Comments
Q. You purchased a new vehicle for $34,700 on May 26, 2009. Your first monthly payment will be due on July 2, 2009. The interest rate is 3.5% per year and the time period is 4 years. Create an amortization schedule. It should have the following columns: Payment number, Payment amount, Interest, Paid principal, Unpaid balance. The monthly payments will all be the same.
Asked by Jane - Fri Jan 1 19:56:12 2010 - - 3 Answers - 0 Comments
30 YEAR FIXED RATE MORTGAGE PAYMENTS - PREPAYING PRINCIPAL AND IT'S IMPACT ON AMORTIZATION SCHEDULE?
Q. If I have a $300,000, 5% fixed rate, 30 year mortgage, $1,650/ mth and pay an additional $500/mth specifically to be applied to principal, is the mortgage company's amortization table recalculated every month? In effect, is the monthly interest expense lowered not simply because interest expense lowers each month in a fixed loan, but also because of the monthly $500 payments designated to principal? My mortgage broker indicated that although my principal will be reduced with prepayments, my monthly interest and principal ratios won't vary from the original amortization schedule since prepayments will be applied on the back end of the loan (i.e. 360th installment payment) versus on the front end of the loan (i.e 1st payment)? Is this… [cont.]
Asked by john h - Sat Jan 17 13:21:30 2009 - - 2 Answers - 0 Comments
Q. If I have a $300,000, 5% fixed rate, 30 year mortgage, $1,650/ mth and pay an additional $500/mth specifically to be applied to principal, is the mortgage company's amortization table recalculated every month? In effect, is the monthly interest expense lowered not simply because interest expense lowers each month in a fixed loan, but also because of the monthly $500 payments designated to principal? My mortgage broker indicated that although my principal will be reduced with prepayments, my monthly interest and principal ratios won't vary from the original amortization schedule since prepayments will be applied on the back end of the loan (i.e. 360th installment payment) versus on the front end of the loan (i.e 1st payment)? Is this… [cont.]
Asked by john h - Sat Jan 17 13:21:30 2009 - - 2 Answers - 0 Comments
how do i make an amortization schedule?
Q. how do i make an amortization schedule?
Asked by hershy bar - Sun Sep 27 20:39:33 2009 - - 2 Answers - 0 Comments
Q. how do i make an amortization schedule?
Asked by hershy bar - Sun Sep 27 20:39:33 2009 - - 2 Answers - 0 Comments
Where can I find an amortization calculator that computes an amort schedule on a DAILY basis?
Q. An excel spreadsheet template or web calculator will suffice.
Asked by AustinoBambino - Fri Dec 1 18:32:09 2006 - - 1 Answers - 0 Comments
A. Check out www.thinkmortgages.com They have this sort of thing
Answered by Ichi - Tue Dec 5 10:14:10 2006
Q. An excel spreadsheet template or web calculator will suffice.
Asked by AustinoBambino - Fri Dec 1 18:32:09 2006 - - 1 Answers - 0 Comments
A. Check out www.thinkmortgages.com They have this sort of thing
Answered by Ichi - Tue Dec 5 10:14:10 2006
Does anyonw know how to view an amortization schedule from..?
Q. ..a Qualifier Plus IIIpx? I tried calling them no answer. How do I get the interest payment. If you know how to operate this calculator, please provide e-mail so we may converse on the matter. Thanks!
Asked by Musiq - Fri Dec 26 16:28:35 2008 - - 1 Answers - 0 Comments
A. easier way is to type how to calculate money into yahoo and it will give you the formula and all you do is plug in the numbers!!!
Answered by mister ed - Sat Dec 27 10:36:52 2008
Q. ..a Qualifier Plus IIIpx? I tried calling them no answer. How do I get the interest payment. If you know how to operate this calculator, please provide e-mail so we may converse on the matter. Thanks!
Asked by Musiq - Fri Dec 26 16:28:35 2008 - - 1 Answers - 0 Comments
A. easier way is to type how to calculate money into yahoo and it will give you the formula and all you do is plug in the numbers!!!
Answered by mister ed - Sat Dec 27 10:36:52 2008
on line free printable amortization schedule?
Q. on line free printable amortization schedule?
Asked by jordan-carolyn@sbcglobal.net - Tue Jan 9 14:13:01 2007 - - 2 Answers - 0 Comments
A. HSH has a whole bunch of nice calculators on their site. I think they may also have a downloadable one. If you are looking for software that does income and expense calculations plus much more, try Simple Remote at: good luck,
Answered by MemoryLeak - Tue Jan 9 15:04:55 2007
Q. on line free printable amortization schedule?
Asked by jordan-carolyn@sbcglobal.net - Tue Jan 9 14:13:01 2007 - - 2 Answers - 0 Comments
A. HSH has a whole bunch of nice calculators on their site. I think they may also have a downloadable one. If you are looking for software that does income and expense calculations plus much more, try Simple Remote at: good luck,
Answered by MemoryLeak - Tue Jan 9 15:04:55 2007
whats a amortization schedule?
Q. whats a amortization schedule?
Asked by e83sw - Thu Jul 23 13:10:27 2009 - - 2 Answers - 0 Comments
A. It is an accounting of a loan and the balance due at each payment. It gives you the total of principal and interest paid .
Answered by knowitall - Thu Jul 23 13:15:54 2009
Q. whats a amortization schedule?
Asked by e83sw - Thu Jul 23 13:10:27 2009 - - 2 Answers - 0 Comments
A. It is an accounting of a loan and the balance due at each payment. It gives you the total of principal and interest paid .
Answered by knowitall - Thu Jul 23 13:15:54 2009
amortization schedule promblem?
Q. Starting on July 1, 2000, Peter borrows \$7600.00 each year for 4 years from his dear Aunt May to pay for college. (Note: the last date that he borrows money is July 1, 2003.) From the beginning, Aunt May agreed to defer all interest on the loans until Peter finds a job; i.e. Peter's loans will not accumulate any interest until the first day he starts working. After that, Peter will be charged 9 percent compounded semiannually, and he will pay Aunt May back with 10 equal semiannual payments, the first coming 6 months after he starts his job. Peter finds a job as a photographer for a local newspaper, and his first day of work is July 1, 2004. For tax reasons, Peter needs to know the following: What is the total amount of interest that Peter… [cont.]
Asked by Cory - Wed Sep 16 23:39:38 2009 - - 1 Answers - 0 Comments
A. his seminannual payment is -$3,841.92 his amortization schedule is: 2005 $30,400.00+$1,368.00 $27,926.08+$1,256.67=$2,6 24.67 2006 $25,340.84+$1,140.34 $22,639.26+$1,018.77=$2,1 59.10 2007 $19,816.11+$891.73 $16,865.92+$758.97=$1,650 .69 2008 $13,782.97+$620.23 $10,561.29+$475.26=$1,095 .49 2009 $7,194.63+$323.76 $3,676.47+$165.44=$489.20 his total interest for 2007 is $1,650.69
Answered by Julius N - Sun Sep 20 12:28:59 2009
Q. Starting on July 1, 2000, Peter borrows \$7600.00 each year for 4 years from his dear Aunt May to pay for college. (Note: the last date that he borrows money is July 1, 2003.) From the beginning, Aunt May agreed to defer all interest on the loans until Peter finds a job; i.e. Peter's loans will not accumulate any interest until the first day he starts working. After that, Peter will be charged 9 percent compounded semiannually, and he will pay Aunt May back with 10 equal semiannual payments, the first coming 6 months after he starts his job. Peter finds a job as a photographer for a local newspaper, and his first day of work is July 1, 2004. For tax reasons, Peter needs to know the following: What is the total amount of interest that Peter… [cont.]
Asked by Cory - Wed Sep 16 23:39:38 2009 - - 1 Answers - 0 Comments
A. his seminannual payment is -$3,841.92 his amortization schedule is: 2005 $30,400.00+$1,368.00 $27,926.08+$1,256.67=$2,6 24.67 2006 $25,340.84+$1,140.34 $22,639.26+$1,018.77=$2,1 59.10 2007 $19,816.11+$891.73 $16,865.92+$758.97=$1,650 .69 2008 $13,782.97+$620.23 $10,561.29+$475.26=$1,095 .49 2009 $7,194.63+$323.76 $3,676.47+$165.44=$489.20 his total interest for 2007 is $1,650.69
Answered by Julius N - Sun Sep 20 12:28:59 2009
From Yahoo Answer Search: 'Amortization schedule'
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Debtor will make 60 monthly payments of $8648, based on a 30 year amortization schedule , with a balloon payment (in an unspecified amount) due at the end of ...
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The way the banking company charges you interest is advanced You might not even realize you are paying to a higher degree you have to and this is not your fault.
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