All Questions
4
questions
1
vote
2
answers
439
views
Are there any amortized home mortgage loans where the monthly payments are distributed equally between interest and principal?
Are there any type of home mortgage loans where the amortized monthly payments are equally distributed towards the interest and principal? I understand this would violate the current formulas used to ...
- 45
1
vote
1
answer
771
views
How are fractional cents handled when bank create a loan payment schedule
I am working on developing my own loan payments schedule generator and I have a question regarding how fraction cents
For example, this load:
Principal: $10,000
Interest: 5% per year
Period: 48 ...
- 11
-1
votes
1
answer
817
views
how to find flat rate of interest per annum and month if we have given reducing rate of interest or loan amount and tenure?
For example: For loan amount 500000 for 5 years at the rate of 12% (reducing interest rate), EMI is 11,122.22 per month Here 12% reducing is equivalent to flat 6.69% per annum or flat 0.55% per month.
...
-4
votes
5
answers
999
views
Mortgage vs. Loan?
I understand the math behind how banks calculate the interest to principal ratio throughout the amortization period. I want to know why banks want you to pay as much interest as possible first? In a ...
- 123