how do i work out how much of my mortgage payment is interest?
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To calculate how much interest you'll pay on a mortgage each month, you can use the monthly interest rate. Generally, you'll find this by dividing your annual interest rate by 12. Then, multiply this by the amount of principal outstanding on the loan.
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['The amount of your deposit, or the amount you lend, using the variable “p” for "principal"', 'How frequently to calculate and pay interest (yearly, monthly, or daily, for example), using “n” for the number of times per year.']
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['E is the EMI.', 'P is the principal or loan amount.', 'r is the rate of interest (calculated monthly.', 'n is the tenor (calculated monthly).']
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['Calculate Total Amount Accrued (Principal + Interest), solve for A. A = P(1 + rt)', 'Calculate Principal Amount, solve for P. P = A / (1 + rt)', 'Calculate rate of interest in decimal, solve for r. r = (1/t)(A/P - 1)', 'Calculate rate of interest in percent. ... ', 'Calculate time, solve for t.']
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Multiply your monthly payment by the number of payments you will make over the entire course of the mortgage. For example, if your monthly payment is $825.00 and you will make 180 payments over the course of a 15-year loan, multiply 825 by 180 to get 148,500.
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Add your interest rate to your principal then divide the total by four. Example: Your principal is $10,000 and your total interest is $700, calculate as follows to arrive at your quarterly payments: $10,000 + $700 = $10,700 / 4 = $2,675 = quarterly payments.
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Divide the asset's total debt by its fair market value and multiply by 100 to calculate the asset's debt percentage. For example, if you have mortgages totaling $100,000 on home worth $300,000, the asset's debt percentage is 33 percent -- $100,000 divided by $300,000 times 100.
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Calculate the monthly payment. To figure out how much you must pay on the mortgage each month, use the following formula: "= -PMT(Interest Rate/Payments per Year,Total Number of Payments,Loan Amount,0)". For the provided screenshot, the formula is "-PMT(B6/B8,B9,B5,0)".
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Fixed-rate mortgage payments stay the same for the life of the loan. Example: $500,000 mortgage loan at 5 percent interest for 30 years making 12 payments a year -- one per month. Multiply 30 -- the number of years of the loan -- by the number of payments you make each year. For example, 30 X 12 = 360.
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Divide your interest rate by the number of payments you'll make in the year (interest rates are expressed annually). So, for example, if you're making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.
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['A = Accrued Amount (principal + interest)', 'P = Principal Amount.', 'I = Interest Amount.', 'R = Annual Nominal Interest Rate in percent.', 'r = Annual Nominal Interest Rate as a decimal.', 'r = R/100.', 't = Time Involved in years, 0.5 years is calculated as 6 months, etc.']
52790
['Calculate Accrued Amount (Principal + Interest) A = P(1 + r)t', 'Calculate Principal Amount, solve for P. P = A / (1 + r)t', 'Calculate rate of interest in decimal, solve for r. r = (A/P)1/t - 1.', 'Calculate rate of interest in percent. ... ', 'Calculate time, solve for t.']
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['=PMT(interest rate as a decimal/12, number of months in loan term, loan amount, with fees)', '=PMT(.04/12, 60, 13000)', '=RATE(number of months in loan term, estimated monthly payment, value of loan minus fees)*12.', '=RATE(60,-239.41,12500)*12.']
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Your new UFMIP amount. This is calculated by multiplying your base loan amount by 1.75% (all FHA mortgages charge this amount).
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['Step 1: To calculate your interest rate, you need to know the interest formula I/Pt = r to get your rate. ... ', 'I = Interest amount paid in a specific time period (month, year etc.)', 'P = Principle amount (the money before interest)', 't = Time period involved.', 'r = Interest rate in decimal.']
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You can just divide your mortgage payment by 12 and add 1/12th the amount to your payment each month. Therefore, if your regular payment is $1,500 a month, you would pay $1,625 each month instead.
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Divide the annual interest amount by 12 to calculate the amount of your per annum interest payment that is due each month. If you owe $600 for the year, you make monthly payments of $50. Another way to make the same calculation is to divide the annual interest rate by 12 to calculate the monthly rate.