Would anyone have a website url that would allow me to figure out how many years it would take me to pay off my mortgage under the following conditions:
Mortgage amount - $100,000
Mortgage rate - 4.9%
Monthly payment made - $860
Payment frequency - monthly
The assumption is all the numbers listed above would not change during the duration of the mortgage.
If there is a website that would help me figure this out, that would be great as I'd like to try different numbers to see what makes sense for my situtation.
Thank you
2007-01-04 15:02:16 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
www.bankrate.com/brm/amortization-calculator.asp
2007-01-04 15:05:04 · answer #1 · answered by Thomas K 6 · 0⤊ 0⤋
It would take 158 months. I'm not aware of an online calculator but if you have access to Microsoft Excel, you can enter the following in a cell to get the answer:
=NPER(4.9%/12, 860, -100000, 0)
You can then edit the cell to change the interest rate, monthly payment or the loan amount.
2007-01-04 15:18:47 · answer #2 · answered by huskie 4 · 1⤊ 0⤋
you like an amortization schedule. purely enter the central quantity, interest fee, charge quantity (P&I) and time era. that is going to then print out, and you'd be attentive to each and every time you're making a charge how a lot went to central and how a lot is interest. verify with a community escrow/call business enterprise and see in the event that they might print you out one.
2016-12-15 16:02:06 · answer #3 · answered by allateef 4 · 0⤊ 0⤋
Yahoo Real Estate:
http://realestate.yahoo.com/calculators;_ylt=AvqQDWDfkItrlaWvW_VQizOkF7kF
2007-01-04 15:33:47 · answer #4 · answered by Mary 3 · 0⤊ 0⤋
159 months or 13.25 years I do not have a website but if you have a financial calculator (HP 12c)
100k -(negative) pv
4.9 G I
860 PMT
N= 159/12 = 13 years 3 months
2007-01-04 15:37:58 · answer #5 · answered by tianaramal 4 · 0⤊ 0⤋
I don't know of a web site but the answer is 158.03 months.
About 13 years and 3 months.
I think!!
2007-01-04 15:07:30 · answer #6 · answered by alysiallen 2 · 0⤊ 0⤋
Try www.realtors.com
2007-01-04 15:12:09 · answer #7 · answered by John Hightower 5 · 0⤊ 0⤋