mortgage calculator

Viewing 7 posts - 1 through 7 (of 7 total)

nathan210
Participant
@nathan210
Join Date: 2003
Post Count: 81
May 31, 2004 - 5:58 am
what is the formula for calculating the rate of repayment on a princilple/interest loan? [eh]
thanks guys/girls
Lizzy
Member
@lizzy
Join Date: 2004
Post Count: 230
May 31, 2004 - 6:43 am
Hi Nathan,
We have covered this topic in a few other threads and I ended up offering to send my excel sheet of the P & I calculator to people, just PM or email to request it.
The actual formula is a little complicated as it involves working out an amortising balance over the loan term (some nifty algebra involved). In excel you can just use the PMT function to work this out, which is what I have done with my calculator (it will give you the same results as the banks).
Liz
Mortgage Lender
Lizzy
Member
@lizzy
Join Date: 2004
Post Count: 230
May 31, 2004 - 7:21 am
Nifty ey!
[wink2] Thanks iambored… (You got a nick?)
Alternatively Jaffasoft has created some good online calculators I havn’t seen yet but look for his post in the “Help Needed” thread.
Liz
Mortgage Lender
hotshot
Member
@hotshot
Join Date: 2004
Post Count: 52
May 31, 2004 - 9:42 pm
hey iamboredaimbored dude you can count 2??????? full o suprises or wat???? Gotta name man???? Mr X for xray – can see thru ya [biggrin]
FFComm
Member
@ffcomm
Join Date: 2004
Post Count: 627
May 31, 2004 - 10:45 pm
Heres an online Mortgage Calc:
http://moneymanager.smh.com.au/tools/calculators/loanrepayment.html
Hope this helps.
Rgds.
Lucifer_au
hotshot
Member
@hotshot
Join Date: 2004
Post Count: 52
June 1, 2004 - 12:44 am
names Tom dude, you?
No probs, you?
Lizzy
Member
@lizzy
Join Date: 2004
Post Count: 230
June 1, 2004 - 12:59 pm
[offtopic]
This thread is about a calculator – keep it real!
[rolleyes4][rolleyes4][rolleyes4][rolleyes4][rolleyes4]
Liz
Mortgage Lender