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Mortgage repayment calculation formula
Theed07
Posts: 3 Newbie
As a numerate science graduate, I am looking for the means (i.e. maths formula) by which mortgage repayments are worked out by lenders. Would anyone be able to point me in the right direction ?
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Comments
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When you find out how devious lenders are Theed07, please come back and let us know.
The fact that the same interest rate causes different AER's suggests some are more honest than others!
Best of luck!Be ALERT - The world needs more LERTS0 -
Look at the formulas in open office calc. They Mimic Excel in an entirely legal manner. PMT and FV are very useful.
J_B.0
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