Communiquez avec les autres et partagez vos connaissances professionnelles

Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.

Suivre

How to calculate the amortization schedule. i need help about this?

user-image
Question ajoutée par Muhammad waseem , Import Export Manager , Softwood (pvt) ltd
Date de publication: 2016/08/20
Eleanor Cariño
par Eleanor Cariño , Receptionist cum Accountant , Future College FZC

To calculate the amortization, you need to know the following information:  principal amount, interest rate and amortization period.

  • The principal amount is the current loan balance outstanding ($100,000).
  • Your interest rate (6%) is the annual rate on the loan. To calculate amortization, you will convert the annual interest rate into a monthly rate.
  • The term of the loan is 360 months (30 years). Since amortization is a monthly calculation in this example, the term is stated in months, not years.
  • Your monthly payment is $599.95. The dollar amount of the payment stays constant. However, the portion of the payment that is principal or interest will change.

More Questions Like This