Colli Real Estate

How do you calculate a monthly mortgage payment by hand?

I know there are calculators online payment but I'm make an Excel spreadsheet calculator and I need to know the equations used to obtain the results. For example, calculate the monthly payment of a $ 220,000 loan over 30 years at a rate of 5.5%.

This link shows the formula to amortize a loan "by hand" http://www.frickcpa.com/tvom/TVOM_Amort.asp Microsoft has "models" that you can download for free if you do not have to reinvent the wheel. There are 33 available online by Microsoft through this link http://office.microsoft.com/en-us/templates/results.aspx?qu=loan+amortization&av=TPL000

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Monthly Interest Amortization Tables $5.19 Loan amounts of $50 to $300,000. Interest rates of 2% to 25.75%. Terms up to 40 years….

Mortgage Payments Mortgage Payments $3.95 Updated to reflect current rates, these quick reference tables show the size of monthly payments necessary to amortize loans on amounts up to $600,000 over periods ranging from one to 40 years across a broad span of interest rates. There is a short-entry glossary of financial terms at the back of the book.

Mortgage Payments $10.44 Updated to reflect current rates, these quick reference tables show the size of monthly payments necessary to amortize loans on amounts up to $600,000 over periods ranging from one to 40 years …

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