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January PowerPoint Presentation

January

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January

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Presentation Transcript

  1. Mortgage Amortization January February $149,894.75 X .0775 $11,616.84 ÷ 12 $968.07 $1,074.00 $968.07 $105.93 $149,788.82 Principal Balance $150,000 X Annual Note Rate X .0775 = Annual Interest $11,625 Change to monthly ÷ 12 = Monthly Interest $968.75 Constant Mo. Payment $1,074.00 (-) Monthly Int. Exp.- $968.75 = Principal Reduction $105.25 Balance after payment $149,894.75