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Is there a general calculation used to figure the monthly payment amount on income based apartments?
Wiki User
∙ 14y ago
No, because you need to take into many factors, such as size, rooms and location for the calculation.
Wiki User
∙ 14y ago
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How does one use a mortgage calculator?
A mortgage calculator works by taking in the general loan information amount, interest rate, term. The calculator takes the information and determines a monthly payment amount.
What are some shortcuts on a loan calculator?
Multiply the monthly payment you are required to pay by the percentage interest you are paying. This will give you the amount of your loan each month that goes toward interest. Subtract this number from the total monthly payment for your amount of principle.
Reading an Amortization Table?
Amortization tables are used to help customers who have a loan see how the loan is progressing. An amortization table is normally used for mortgages. An amortization table can help you see how much of your monthly payment goes towards the principal of your loan. This type of table can also help you see how much of your monthly payment goes towards the interest that your loan accumulates.The Monthly Payment Column on an Amortization TableThe monthly payment column is the column that shows you how much money you have to pay every month. Most loans feature monthly payments that do not change throughout the length of your loan's term.The Principal Paid Column on an Amortization TableThe principal paid column on an amortization table is the column that tells you how much of your monthly payment goes towards the amount of money that you borrowed and now owe to the lender. At the start of your loan, your principal payments will be pretty small. You make small monthly payments at the beginning of your loan because there is more interest at the start of the loan. Once the amount of money that you owe gets smaller, more of your monthly payment will go to the principal.The Interest Column on an Amortization TableThe interest column shows you how much of your monthly payment is going to the interest that has accumulated on your loan. The amount of interest that is taken out of your monthly payment is higher because most of you owe has not been paid back yet. As your overall balance gets smaller, your monthly interest payments will decrease as well. You can figure out how much of your payment goes to interest by multiplying the interest rate by the loan's outstanding balance.The Balance Column on an Amortization TableThe balance column tells you how much of the loan you still need to pay to your lender. You can determine how much of your loan you still need to pay by subtracting your monthly principal payment from last month's balance.
How do you calculate the Principal repaid after a period of time on a loan?
get the difference of interest rate and monthly periodic payment
Lavina wants to buy a rocking chair for 160 She will pay 10 down and pay the rest in six monthly installments What will be the amount of each monthly payment?
the answer is b 24 dollars
Where can you find the cheap auto insurance that offers monthly payment plans?
State farm offers cheap auto insurance that offers monthly payment plans. The General online website also offers it.
Is there an example of a car loan payment calculation online?
Yes, there are examples of car loan payment calculators online. One online place to find a car loan payment calulator is Bank Rate. This will allow you to see you estimated monthly payments.
Monthly payment on 217000 30yrs at 4.5 percent What would the monthly payment be?
Want to know what our monthly house payment will be owing 217000.00 on a 30 year loan at 4.5%
What does monthly periodic payment means?
a monthly periodic payment is a payment made each month at a specific time each month. This can either be a payment made to an individual such as an annuity payment, or a payment made from an individual such as a loan payment.
When you pay the full payment of a phone do you have to pay the monthly payment too?
If you want service you will pay a monthly bill.
What can affect your monthly car payment?
Interest and down payment.
What would happen to a monthly payment if the interest rate increased?
Either the monthly payment would have to increase or the period of the loan.
Can you buy a home with a low income?
The answer would be yes, depending. A good rule of thumb is to calculate 43% of your gross income. Then, subtract your monthly payments (credit cards, installment loans and such). You'll be left with a figure that should be close to you eligible amount for a total monthly mortgage payment (principal, interest, taxes and insurance). It would be wise to ensure that even if my calculation allows this total monthly payment to be over 31% of your gross income, that you try not to take a mortgage payment over that amount. Many do, but it stretches them financially.
What is a monthly payment called?
Amonthley payment on a house is called a "Mortgage"
What is the monthly payment of a bugatti?
vaginas
Can you make a monthly payment for your child support and not have a garnishment?
Can you make a monthly payment for your child support and not have it garnishment out of your payroll each week
Can I use a monthly payment calculator to figure out how my employer determines my monthly 401k deduction?
You can use a monthly payment calculator to figure out how your employer determines your monthly 401K deduction. A good site that has a calculator is labpixie.
