Embed Size (px)
DESCRIPTION
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 - PowerPoint PPT Presentation
Citation preview
JanuaryPrincipal Balance
$150,000X Annual Note Rate X .0775
= Annual Interest $11,625Change 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
February$149,894.75 X .0775 $11,616.84
÷ 12 $968.07
$1,074.00
$968.07 $105.93
$149,788.82
Mortgage Amortization
