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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'?

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				b.c.mather
				Software Surgeon
				uiucdcs!uicsl!mather