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Frequently Asked Questions

How do I calculate amortization?

To calculate amortization, you also need the term of the loan and the payment amount each period. In this case, you will calculate monthly amortization. The principal amount is the current loan balance outstanding ($100,000). Your interest rate (6%) is the annual rate on the loan.

How do you calculate mortgage interest rates?

The equation used to compute the interest portion of your mortgage payment in any given month is: current principal multiplied by annual percentage rate and divided by 12 months. Write down the total remaining balance of your loan. You can find this amount on your monthly mortgage statement labeled "loan balance" or "principal balance.".

How do you calculate bank interest rates?

You can calculate how much interest a bank is paying you on an account. Divide the annual interest rate by the number of times per year the interest is compounded on your account to find the periodic interest rate. For example, if your bank compounds interest on a monthly basis, you would divide your annual interest rate by 12.

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