what will be total intt on 150000 for 15 years @ 10% simple monthly reducing if i pay 835 every month?

Question

pl note not to calculate the intt on intt, just calculate e.g for first month intt on amt 150000, 2nd 150000-835=149165, 3rd 149165-835=148330. All amortization calculators calculate the EMI which is not serving my purpose because that are calculated after adding every month intt to principal wherein i don't want to add the every month intt to principal

thanks dear firefly but i want to pay only 835 per month, not intt. i want to keep the intt seperate andpay it lateron after 15 years

Answer 1

So, what you're saying is that each month you're going to pay the interest PLUS 835. right?
I set up an excel spread sheet to do this.and got $75890
The way I did it was set the first row, first column to
150,000
then the second row, first column to (A1-835)
And expanded this down to row 180 (15 years).
The next column, I simply set to the value in the same row of the first column TIMES .1/12 (10% annual, per month).
Then I summed up all the values in the second column.