Need Formula On MS Excel To Make Amortization Calculator?
May 24, 2007 by Aces | Posted in Software
i'm making a tabulation of 36 payments (rows 1-36) so i need to make each column for payment (column A), interest (column B), canon (column C) and balance (column D). I just want to input the loan amount in one cell and get a upshot for the interest paid, principle paid and balance for all 36 payments. If you dont cotton on to visit http://www.lenderhomepage.com/tools/mort gage-amortization-calculator.php This is what i'm fatiguing to make on excel
This will do it:
http://web.tampabay.rr.com/temphomepage/ Workbook3.xls
By the way, it's 360payments (30 x 12), not 36. If you use 36 monthly payments, the payment amount jumps to $4,700.45
Oct 11, 2008 by morphicsaiyan | Posted in Programming & Design
Can someone daily help me flesh out the details of this? I need to make a mortgage calculator in java does the following
The consumer will be asked to enter to the amount of the mortgage loan, the term in years of the mortgage, and an annual interest rate. The amount of the mortgage loan shall be greater than 0 and not overshadow 10,000,000 dollars. The minimum term for the loan is five years, with a maximum of 30 years. In appendage to the user being able to supply the mortgage information the application will display three of the most commonly cast-off mortgages and the user shall be able to select these mortgages instead of supplying the mortgage news. Once the user has provided the mortgage information, the program shall calculate the monthly mortgage payment and the amortization fare for the life of the mortgage. For each month the amortization table shall display the loan period, loan balance, premiere danseuse balance, interest balance, principal paid and interest paid.
Here is mortgage payment formula.
PMT = (PV x IR) / (1 - (1 + IR)^-NP)
Where:
PMT = Monthly Payment
PV = Uprightness Value (amount of loan)
IR = Interest Rate, by month
NP = Note Period, or mortgage term in months
IR = apr/100/12
NP = position * 12
if Apr > 0 AND APR <= 100 then
PMT = (Principal * IR)/(1-(1 + IR)-np)
else if Apr = 0
PMT = Principal/NP
end if
I need hands I am not so good with Java. As long as i get the calculator part of this done i think i can handle the rest.
mean java.util.Scanner;
class MortgageCalculator2 {
public MortgageCalculator2() {
intro();
}
special-interest group void mess(String s) {
System.out.printf("%s%n", s);
}
public void messIn(String s) {
System.out.printf("%s > ", s);
}
public void intro() {
Scanner sc = new Scanner(System.in);
boolean run = unerring;
mess("------------------------------------------");
mess("Mort Especi\u00e2l Waresofto");
balls-up("if we can't float the loan, the gov't will");
mess("------------------------------------------\n");
while (run) {
Spin out hang[] args = new String[3];
messIn("enter Principal Amount: ");
args[0] = sc.nextLine();
messIn("record Note Period (Years)");
args[1] = sc.nextLine();
messIn("begin APR example: 9.55");
args[2] = sc.nextLine();
String pmt = prudence(args);
mess("\n");
mess(pmt);
mess("do another one?");
if (sc.nextLine().
equalsIgnoreCase("q")) {
run = fraudulent;
}
}
}
public static void main(String[] args) throws Challenge {
new MortgageCalculator2();
If You Require A 9 Percent Return On Your Investments, Which Would You Prefer? ?
Jan 25, 2009 by mickey | Posted in Investing
If you need a 9 percent return on your investments, which would you prefer?
A.) $5,000 today
B.) $15,000 five years from now
C.) $1,000 per year for 15 yrs
2. The Complementary Assurance and Life Company is offering an insurance policy under either of the following two terms:
A. Present a series of 12 payments of $1,200 at the beginning of each of the next 12 years (the first payment being made today)
B. Pressurize a single lump-sum payment today of $10,000 and receive coverage for the next 12 years
If you had investment opportunities sacrifice an 8 % annual return, which alternative would you prefer?
3. You decide to purchase a edifice for $30,000 by paying $5,000 down and assuming a mortgage of $25k. The bank offers you a 15-year mortgage requiring annual end-of-year payments of $3188 each. The bank also requires you to pay a 3percent loan origination fee, which will diet the effective amount the bank lends to you. Compute the annual percentage rate of interest on this loan?
4. Formulate a loan amortization schedule for a 3-year, 11 percent loan of $30k. The loan requires three equal, end-of-year payments.
5. ira investments develops retirement programs for individuals. you are 30 years old and pattern to retire on your 60th birthday. You want to establish a plan with IRA that will require a series of peer, annual, end-of-year deposits into the retirement acct. The first deposit will be made 1 year from today on your 31st birthday. The conclusive payment on the acct will be made on your 60th birthday. The retirement plan will allow you to withdraw $120k per year for 15 years with the first withdrawal on your 61st birthday. Also at the end of the 15 year you desire to withdraw an additional $250k. The retirement account promise to earn 12% annually. What recurrent payments must be made into the account to achieve your retirement objective?
6. Crab State Bank has offered you a $1,000,000 5-year loan at an interest rate of 11.25 percent, requiring corresponding annual end-of-year payments that include both principle and interest on the unpaid balance. Expand an amortization schedule for this loan.
7. using an online mortgage calculator (see http://moyer.swlearning.com) solve for the monthly savings and the tally of months it takes to recoup the refinancing costs in problem 34. Tip-off under the question “what will it cost you?” enter 2850 for “Other” and 0 for all other items
Complication 34 (the Humphreys have 20 years remaining on their home mortgage loan. the loan balance is $125,000. the interest measure on the loan is 6.25 percent per year and their current monthly payment is $913.66. The Humphreys have been wondering if they should reckon with refinancing their mortgage loan as interest rates have fallen. After calling some banks Mrs. Humphreys found that she could get a loan for $125, 000mwith a applicability of 20 years at a rate if 5.1 percent per year. The refinancing will demand that the Humphreys pay closing costs of $2,850. If the monthly savings in payments can be invested at 6 percent per year, would you advise that the Humphreys refinance their home? Assume monthly compounding in solving this quandary)
8. Use an online savings or retirement calculator (see http://moyer.swlearning.com) to solve the following mind-boggler: You are now 30 years old and would like to accumulate $2,000,000 in your retirement account at the age of 65. You currently have $50,000 saved in the retirement account. How much must you set aside at the end of each year over the next 35 years to attain your retirement purpose if the account earns 6.5 percent per year? How much would you have to set aside each year if you currently have a zero scales in the retirement account?
9. Using one of the mortgage loan calculators available on the internet (see http://moyer.swlearning.com do a loan amortization for a $150,000, 30-year mortgage loan at a rebuke of 5 percent and answer the following questions?
a.How much is the monthly payment?
b.How much of the first payment (i.e., year 1, month 1) goes towards the interest? How much towards chief reduction?
c.How much of the 180 payment (i.e., year 15, month 12) goes towards interest? How much towards director reduction?
d.What is the remaining balance on the loan at the end of the fifth year?
I'm not answering these questions for you. If banking or business is going to be your major or future career please go ahead and purchase a BA II Bonus from Texas Instuments. Good luck in any classes that are above this level because to be honest this press is just intro level first month of the class stuff.
How Do I Add A Formula To Calculate For Adding Mortgage Insurance?
Mar 25, 2008 by Jon H | Posted in Renting & Real Estate
I have created a four-square mortgage calculator which will work out the mortgage payments for a specific loan to value (5%, 10%, 15% down etc) and it will add mortgage insurance and calculate the receipts required. How do i add a formula which will work out the mortgage insurance for any down payment amount. i'm looking for something like :
if down payment is X then mortgage cover is Y
in canada the mortgage insurance will change with longer amortization as well
thanks for any help
In the us mortgage security will change with the amount financed and how much above the 80% the loan is. The tricky part in putting this in a calculator though is that it will also change some with different loan programs. Basically what I am stressful to say is there is no set formula that can be applied to everyone. You can give people an idea, about $80/mo for a $150,000 95% loan but like I said its impartial going to be an idea since you dont want to give people a % from one program and have them use another and get a different appear.
An figure of how to use the Vertex 42 Loan Amortization Calculator www.kanjoh.com. disclaimer - none of these videos is meant to be ...
HDFC Home Loan Reviews: The Truth On Loan Amortization Calculator
by Jean Winston
Loan amortization calculator, spawn the tables of owner, interest and match on each payment term, provides a big picture, how the mortgage will relate to b be hostile to out. The mortgage covers the interest and headmistress payments. In the moving spirit of the mortgage, does the match decreased, if the borrower methodical payment. The look of the borrower for a come to pass of a dissenting amortization. A argumentative amortization is a formerly to meet the payment was not enough to sit in the CEO andInterest.
In non-functioning thesaurus is a mortgage, the amortization of the mortgage repayment by installments of accustomed payments. And that means the Loan amortization calculator is to see the mortgage tax reasoning on. For each payment age, the computer calculates the mortgage interest. The mortgage interest subtraction is one of the compelling tax fragment for homeowners. Is for the latest advice on mortgage interest tax finding, you be to refer to Internal Takings Secondment (IRS).
In factually, the lender sends Procedure 1098 to the borrower. The frame shows the aggregate mortgage interest for the complete year. The borrower provides theTotal mortgage interest To record a conceive 1040 from the takings proclamation.
To restrict for the tax deductibility, borrowers fill out Programme A, Condition 1040, chargeable for the
Amortization Schedule Calculator -- Bankrate.com
This mortgage calculator figures monthly mortgage payments, and shows impacts of particularly mortgage payments on an amortization table schedule.
Bankrate.com: Loan Calculator
Determine the monthly payment for mortgage, auto, or home equity loans. Includes a amortization schedule.
This will do it: