On 7/14/2017 1:18 PM, azalea4va wrote:
There are four "variables in loan calculations: starting principle, interest
rate, term (number of payments), and monthly payment. Given any 3, the
fourth can be computed. Given those four values, one can compute how any
month's payment will be split between interest and principle.
Sorry, but this is NOT true. Those are enough to calculate the
APPROXIMATE amounts but not the exact amounts. There are simply too many
other assumptions being made when constructing an amortization table and
no way to assume that any two people doing ti will make the same
choices. Examples:
a) method? << by "present value" of series of "rents" or by "trial and
error" >>
b) where will rounding take place?
c) how will the final payment be figured?
Michael D Novack
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