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How do you calculate your mortgage payment?
Most mortgage payments can be calculated using this formula. Some mortgages are different based on specific agreements with a bank.This formula is complicated due to ""compounding interest"".Let's define ""i"" as your interest rate divided by 12(one month's interest). ""m"" as the number of months until your loan is payed off. ""l"" as the principle(loan amount without interest).Your mortgage payment = l x [(i(1+i)m] / [(1+i)m-1]That is,The principle multiplied by one month's interest times the quantity 1 plus one month's interest times the number of months until the loan is paid, divided by the quantity 1 plus the monthly interest times the quantity of the number of months til the loan is paid minus 1.
What is the answer if Dustin makes 2330 each month and pays 840 for rent . to the nearest tenth of a percent what percent of Dustin's earnings are spent on rent?
36.1%
How can you calculate mortgages?
The easiest way to calculate a mortgage is to look up nearly any lending site and use their easy calculating tool online. The basic formula is: M = P [ i(1 + i)n ] / [ (1 + i)n - 1]To do this you will need a mortgage calculator:M = monthly paymenti = interestAn example could be $100,000 mortgage at 5% compounded interest per month for 15 years, we solve i as:i = 0.05 / 12 = 0.004167 and n as 12 x 15 = to equal 180 monthly payments.Next we solve for (1 + i)n = (1.004167)180 using the xy key on the calculator, which = 2.11383Now we have M = P [ i(2.11383)] / [ 2.11383- 1] or M = P [.004167 x 2.11383] / 1.11383 or M = $100,000 x 0.00790 = $790.81 per month.
If the monthly bill is 29.30 and kyle makes 110 minutes of long distance phone calls at 0.12 per minute how much will kyle pay for his share of the phone bill?
are u asking for a month or more ? but for a month i would do this : (110 x 0.12) + 29.30 = 13.20 + 29.30 = 42.50 he would pay 42 dollars and 50 cents for a month
Ordinal numbers for the month of march?
third month
What does the average American mortgage payment?
the average mortgage payment is around $1400.00 a month. believe it or not when i bought my house in 1972 my mortgage was $143.75 a month
How much would E and O insurance be per month for a mortgage company?
It may start 1% per month for a mortgage company
Is the payment mortgage on the first of the month covers for that month?
The payment due for the 1st is for present month.
How to cut down the years of 30-year mortgage?
You can refinance the mortgage. You can pay additional principle each month. This will reduce the overall cost of the mortgage. By paying double the principle amount each month, you eliminate a payment at the end of the mortgage time.
What is the average mortgage payment per month in the average American household?
$1500/month
About how many does a wedding photographer do in a month?
The exact amount a wedding photographer makes in a month will depend upon the company and how much they charge. Many photographers will make over $1,000 a month if doing at least four weddings a month.
With 2000 a month can you get a mortgage on a house?
Yes you can get a mortgage if you earn £2000 a Month, but they may ask you to put a deposit down, click the link below for more info about a mortgage/deposit.http://www.creditchoices.co.uk/how-big-a-deposit-do-i-need-to-get-a-mortgage.html
Is mortgage an example of annuities due?
No, mortgage payments are due in the beginning of the month like rent; however, the mortgage payment covers the previous month's interest and principle on the mortgage loan. Rent is an "annuity due" because it is paid in adavance to cover the next 30 days to follow.
What is a mortgage calculator?
A mortgage calculator is a calculator with which you use to calculate your monthly mortgage payment. For example, your home mortgage amount is 300,000 dollars, your mortgage term is 30 years and the annual interest rate is 6%. You would like to find out how much you have to pay per month. In this case, you can use the help of a mortgage calculator, and it tells you that you have to pay 1798.65 dollars per month.
How often do you pay mortgage?
Once a month-generally on the first.
What is the average Australian mortgage repayment?
$4500 per month
What is an example of a fixed cost?
Your rent might be $500 per month. It is a fixed cost. $500 per month. You can rely that every month you have to pay that fixed cost. If you have a house you bought but still pay the mortgage. The mortgage repayment may be $550 per month.
