Mortgage payment calculator software
A normal bi-weekly payment, found by setting the Payment Frequency to handbook of modern hospital safety second bi-weekly, would be 268.14 rounded.
Amortization Chart - Explains how to create a chart showing balance.
If you have questions about using this calculator, please contact Vertex42.There are 26 bi-weekly payments in a year so the difference between 581.60*12 and 581.60/2*26 is 581.60, or one extra monthly payment per year.The spreadsheet has five main sections: Mortgage Information, Extra Payments, Balance, Summary, and Fixed-Rate ARM.Example : A 100,000 mortgage at 5 interest, compounded semi-annually, with an amortization period of 25 years, results in a monthly PI (principal interest) payment of 581.60 (rounded).Online Canadian Mortgage Calculators We used a number of different online calculators to verify this spreadsheet.Read more Explore Further read more screenshots User Reviews Current Version.8 out of 4 votes 5 star 3 4 star 1 3 star 0 2 star 0 1 star 0 All Versions.8 out of 4 votes 5 star 3 4 star.Some of these are listed below.Interest and principal, with an example spreadsheet.
The result is that by the end of a year you will have paid the equivalent of one extra monthly payment towards the principal.
It also lets you see how making periodic batllefield 2 no cd crack extra payments (prepayments) can save you money and help pay off your mortgage sooner.Advertisement, advertisement, description, calculate the payment and outstanding balance for.It incorporates many automated features and options, but better still, its clear explanations, numerous examples, and graphical displays make it easy not only to calculate mortgage rates but also get a better overview of your mortgage.Just choose "Acc Bi-weekly" or "Acc Weekly" from the payment frequency drop-down box (see below for more info).Basically, you just enter values in the white-background cells, and see what happens to the payment, total interest, outstanding balance, etc.To use this calculator like a traditional mortgage calculator you would leave the Periodic Payment area blank and fill in the other details, then click find next to Periodic Payment.This calculator is very nice, and it assumes no rounding.Update 4/22/13 : The calculator now includes accelerated bi-weekly and weekly options.