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Answer by Chris Degnen for What is the formula for calculating the total cost...
What is the formula for calculating the total cost of a loan with extra payments towards the principal?The formula you require is the standard one for calculating the time to repay. With larger...
View ArticleAnswer by kponz for What is the formula for calculating the total cost of a...
You're looking for the amortization calculation. This calculation is essentially solving for the series of cash flows that will yield a zero balance after the specified term, at the given rate for a...
View ArticleWhat is the formula for calculating the total cost of a loan with extra...
If I have a 30 year mortgage of $200,000 with an APR of 4.446% I can calculate how much my monthly payment will be and how much the total cost of the loan will be.But what if I have an extra $200 to...
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