How do you calculate 6.0% on a 30-year fixed rate $117,000.00 loan?

Question

I would appreciated if you tell me how to get the answer, I might have to calculate a different percentage later.

Answer 1

What are you trying to calculate? amortization?

If you are looking for amortization (doing monthly payments):

R = [ (117,000.00 * (9% / 12 ) ] / [ 1 - ( 1+ (9% / 12) ] ^ -360

http://www.mortgage-calc.com/mortgage/simple.php

Answer 2

The answer is 701.47 does not include taxes and insurance. Using a mortgage calculator I took the loan amount of 117,000 entered it in under pv-present value, I then used the future value of 0, fv. Not necessary to compute appreciation. Then enter 6% under I/Y or intrest rate. Then use 360 for 30 years and enter under the N button for number of months. Lastly hit the CPT button for compute then hit the PMT button for payment and SHAZAMM!! 701.47. Hope that helps.

Answer 3

$701/mo (not including taxes and insurance)

Your best bet is to use an online calculator. Here is one that will break down your monthly payment and show you how much of each payment will go to principal and how much will go to interest on a monthly basis.
You will have to account for taxes and insurance separately.

https://www.desertschools.org/dsfcu/ds/calculatorDetail/0,1435,94,00.html

Answer 4

Multiply 117,000.0 by 6.0* (600%) and then multiply that by 30

Answer 5

what do you want to calculate: the monthly or weekly mortgage payment?

or do you juts want the total interest payable?
This is a vague problem

Answer 6

You post it on yahoo and hope someone knows the answer :)

Answer 7

I keep this in my favorites for when I go home shopping.

http://www.cbws.com/property/mortgagecalc.aspx?price=99900