Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: Notesfiles $Revision: 1.7.0.10 $; site uicsl Path: utzoo!watmath!clyde!cbosgd!ihnp4!pur-ee!uiucdcs!uicsl!mather From: mather@uicsl.UUCP Newsgroups: net.invest Subject: amortization schedule? Message-ID: <10800001@uicsl> Date: Wed, 6-Nov-85 09:37:00 EST Article-I.D.: uicsl.10800001 Posted: Wed Nov 6 09:37:00 1985 Date-Received: Fri, 8-Nov-85 07:25:09 EST Lines: 25 Nf-ID: #N:uicsl:10800001:000:888 Nf-From: uicsl.UUCP!mather Nov 6 08:37:00 1985 I have some questions about early payment of a loan. The solution certainly must be trivial to anyone who took accounting. 1) I have a simple interest loan. Interest is calculated on principle due at end of each month. Principle P, Interest (annual) I, Months (terms) N 2) No penalty for early payment of any or all of the loan. Q1?) What is the formula for calculating the amortization schedule? I.e., given P,I,N, how do I calculate the monthly loan payment $D. Q2?) For payment, M (1<=M<=N), how do I calculate the amount of interest (and/or principle) that makes up the loan payment of that month. Q3?) If my loan payments are $D dollars per month and I pay $(D+X) on the loan, can I calculate how much earlier the loan will be paid back? Q4?) Is this the correct spelling of 'principle'? ---- b.c.mather Software Surgeon uiucdcs!uicsl!mather