Mortgages / Loans

% of payment that is interest for 5% and 10% with 10, 20, 30 years
% of payment that is applied to principal for 5% and 10% with 10, 20, 30 years

Periodic payment (Pmt) of a mortgage (or any loan) =


B: big borrowed bucks    r: annual interest rate (decimal)    t: time term in years    n: number of payments per year

B: r: t: n:



Payments' total (P*n*t):      interest paid (P*n*t - B):

If no interest, payment would be (B/(nt)):      Average interest payment (Payment-InterestFreePayment):

Amortization table/schedule:

Applying a monthly payment to a loan

Balance: r:
Monthly Payment now:

Amount of the Payment applied to: Interest= Balance·r·1/12: and to: Principle= Payment-Interest:
New Balance: