$25,000 loan, $5,000 down, seven percent interest over ten years, How would I calculate?
2006-08-06 02:02:45 · 4 answers · asked by masaouda 2 in Business & Finance ➔ Renting & Real Estate
Go to the link below and use the free calculators. If you need any assistance, email me. I am a rep.
2006-08-06 03:51:34 · answer #1 · answered by Sam B 4 · 1⤊ 0⤋
1) Learn the math for amortization.
2) Financial calculator. Any number of them on the web.
3) Most spreadsheets have a payment function. I haven't used Open Office, but it's free (except for the space on your hard drive).
4) Not certain if you're talking $25,000 loan amount on a $30,000 property, in which case the payment is $290.28, or $20,000 loan on a $25,000 property, in which case the payment is $232.22. Down payment makes no difference to the actual loan calculations; whether you're talking about $25,000 loan on a $25,000 purchase amount, or a $25,000 loan against a $250,000 purchase amount, the calculations are the same, although in the real world you'll get a lower interest rate on the latter scenario.
2006-08-06 03:43:07 · answer #2 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Mortgages and Home Financial Planning
By: Joseph Kenny
2006-08-06 02:23:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You pay $1000 down and we can work things out as we go along.
Signed
Tony Soprano
2006-08-06 02:31:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋