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Amortization

Amortization. Formulas. Simple Interest Amortized Loan Formula. Formulas. Unpaid Balance Formula. T is the number of years from the beginning of the loan to the present.

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Amortization

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  1. Amortization

  2. Formulas Simple Interest Amortized Loan Formula

  3. Formulas Unpaid Balance Formula T is the number of years from the beginning of the loan to the present

  4. Shirley bought a house for $187,600. She put 20% down and obtained a simple interest amortized loanfor the balance at for 30 years. • Find her monthly payment. • Find the total interest. • Prepare an amortization schedule for the first two months of the loan.

  5. Shirley bought a house for $187,600. She put 20% down and obtained a simple interest amortized loanfor the balance at for 30 years. • 20 years have passed and Shirley wants to pay off the balance on her house. If there is no pre-payment penalty, what will it cost for Shirley to pay off the unpaid balance of her home loan?

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