Mortgage formula problem!

2008-12-08 7:13 am

I want to buy a apartment, and I have no knowledge about how to calculate the monthly installment rate. Can some body tell me the formula?

更新1:

It is useful but can somebody show me the equation? Thanks.

回答 (1)

cupid

2008-12-08 7:26 am

✔ 最佳答案

Let try following functions under MS Excel

1. Calculate the monthly payment
=PMT(rate,term,PV)
Rate = annual interest rate / 12 (eg. 3% / 12 = 0.03/12)
Term = number of installment to settle the loan (eg. 10 yrs = 10 x 12 = 120months)
PV = loan amount ($1000,000)

2. Calculate the loan amount
=PV(rate, term, payment)
Rate = annual interest rate / 12 (eg. 3% / 12 = 0.03/12)
Term = number of installment to settle the loan (eg. 10 yrs = 10 x 12 = 120 months)
payment = amount of monthly installment (eg $9000)

4. Calculate the number of installment
=NPER(rate,payment,PV)
Rate = annual interest rate / 12 (eg. 3% / 12 = 0.03/12)
payment = amount of monthly installment (eg $9000)
PV = loan amount ($1000,000)

參考: Hope you understand, let check help under MS Excel for detail

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