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	<title>Comments on: How do I calculate mortgage on paper?</title>
	<atom:link href="http://onlineapproval.com.au/2009/06/how-do-i-calculate-mortgage-on-paper/feed/" rel="self" type="application/rss+xml" />
	<link>http://onlineapproval.com.au/2009/06/how-do-i-calculate-mortgage-on-paper/</link>
	<description>Online Approval now for the credit and cash you need!</description>
	<pubDate>Sat, 19 May 2012 10:37:15 +0000</pubDate>
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		<title>By: psunuc</title>
		<link>http://onlineapproval.com.au/2009/06/how-do-i-calculate-mortgage-on-paper/comment-page-1/#comment-5453</link>
		<dc:creator>psunuc</dc:creator>
		<pubDate>Fri, 19 Jun 2009 14:14:38 +0000</pubDate>
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		<description>&lt;a href="http://www.onlineapproval.com.au"&gt;mortgage online&lt;/a&gt;


I assume you mean you want to solve for the mortgage payment 

B = mortgage value = 100,000
i = interest rate = Rate/12 (normal mortgages are compounded monthly) = (0.095)/12 = 0.0079
n = number of months = 20 * 12 = 240

Payment = (B * i) / (1-(1+i)^-n)
Payment = (100,000 * 0.0079) / (1 - (1+0.0079)^-240)
Payment = 932.13

well, this is pen, paper and calculator but I think it is what you want.</description>
		<content:encoded><![CDATA[<p><a href="http://www.onlineapproval.com.au">mortgage online</a></p>
<p>I assume you mean you want to solve for the mortgage payment </p>
<p>B = mortgage value = 100,000<br />
i = interest rate = Rate/12 (normal mortgages are compounded monthly) = (0.095)/12 = 0.0079<br />
n = number of months = 20 * 12 = 240</p>
<p>Payment = (B * i) / (1-(1+i)^-n)<br />
Payment = (100,000 * 0.0079) / (1 - (1+0.0079)^-240)<br />
Payment = 932.13</p>
<p>well, this is pen, paper and calculator but I think it is what you want.</p>
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