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Joined: Mar 08, 2006
Mar 19, 2006 00:52:00
This might be more of a math question, but anyways. I'm trying to find the overpayment percentage of the initial mortgage, but want to make sure my calculation is correct.
Your annual interest rate is: 10%
Your initial mortgage amount is: $20,000.00
Your monthly payment is: $193.00
Your total payment over 20 years is: $46,321.04
Your overpayment is: $26,321.04
Your overpayment percentage of initial mortgage is: 43.18%
Edited. nvm, I got it
overpayment / initial payment
[ March 19, 2006: Message edited by: Jon Martin ]
Joined: Dec 17, 2003
Mar 19, 2006 15:06:00
I think a Google search on the topic
formula for calculating mortgage interest
is your best bet to answer your question.
I agree. Here's the link:
subject: Overpayment Percentage?
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