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How much of mortgage payment is Capital?
Comments
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AllI did was enter the known detail into my Financial Consultant calculator, then used a function called AMRT. I entered the number of months in question , 24 them hit the AMRT button, this then displays how much of the payment at that point is interest, how much is capital, and how much the balance would be.
I have tested it on KFI's etc and it is scarily right evey time, to within about £0.005.
It is an invaluable tool to have in the briefcase asit allows you to calculate a clients current interest rate, outstanding balance, how long they have left on a loan etc etc.
Couldn't be without it, and after 11 years she is still on her first set of batteries !!!!!0 -
Does it allow differences between daily & annual interest calcs ??
Might look out for one.. mine does not have that function , so have to use mortgage brain .... I'm actually still using my Casio fx-100 which I passed my Maths O Level in 1982 !! ( well thast the one on my desk .... I carry a slightly newer version of same model with me on my appointments )Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
Yes I think it does.
It is the FC-100, not sure if it's available now,probably been superceeded.0 -
The calculator in question is still available. Many calculators end up in virtual museums on the web. There are many computer simulations of calculators that are no longer made.
J_B.(Bring back reverse Polish notation !)0
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