How to calculate the monthly P&I for a homeloan using the values of loan amount,rate and term values? What equations are used for the calculation?This is for US mortgage loans.
2007-02-15 20:49:24 · 3 answers · asked by dileep_a18 1 in Business & Finance ➔ Renting & Real Estate
You can either use a financial calculator or the function key in excel. Enter the following:
Rate - x%/12....to get the monthly rate
Term - no of years X 12....to get monthly
PV - Refers to the amount you pay today and is always a negative number...so enter the loan amount with a negative sign
FV - refers to the value at the end of the term which in the case of a loan will be Zero so enter zero.
Hit calculate and this will give you the monthly P&I to get annual, just multiply by 12
2007-02-16 01:02:42 · answer #1 · answered by boston857 5 · 0⤊ 0⤋
You can do this on a financial calculator. But an easier way to do this is go to google or yahoo, search for a mortgage calculator, and it will walk you through the calculation. You might also try www.bankrate.com. There is a calculator there, too. Here is the link: http://www.bankrate.com/brm/mortgage-calculator.asp
2007-02-15 22:28:42 · answer #2 · answered by CJKatl 4 · 0⤊ 0⤋
Calculate P&i
2017-02-20 15:55:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋