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Does anyone know about calculations with interest?

for example if I have to start paying 257 per month for 5 years with an interest of 4% but I give 3,000 for the down payment, the lawyer told me the monthly payment would go down..but my question is how much down will it go cause she couldn't tell me by phone till I go to her office next week..but I want to know already to do calculations of my monthly budget.

 
Anonymous

Asked by Anonymous at 1:12 AM on Oct. 4, 2009 in Money & Work

This question is closed.
Answers (8)
  • Perhaps this can help but there are other calculators out if this doesn't work for you. 


    Calculate and analyze a monthly mortgage payment.

    Anonymous

    Answer by Anonymous at 10:02 AM on Oct. 4, 2009

  • Is this a loan? What's the principal balance?
    PaceMyself

    Answer by PaceMyself at 1:48 AM on Oct. 4, 2009

  • PaceMyself...is principal balance the interest? its 1,500 of interest if I pay it in 5 years but I want to pay it within a year so it can be 300 of interest and not more than that. please reply!
    Anonymous

    Answer by Anonymous at 1:56 AM on Oct. 4, 2009

  • oh its not a loan but my parents are charing me with a lawyer like if there the bank but i'm paying them out of every paycheck i make.
    Anonymous

    Answer by Anonymous at 1:57 AM on Oct. 4, 2009

  • pacemyself why is it that u ask questions to me like ure going to be helpful and then u dont reply to it anymore?!?! uve done that to me to alot of my questions, why is that?
    Anonymous

    Answer by Anonymous at 3:40 AM on Oct. 4, 2009

  • any real estate site will have a calculator online that you can plug your info in for free and get the numbers you want. Paying anything extra on the principal balance ( the original amount loaned) will lower your interest charges. Every bit the principal goes down before the recalculation of the interest will make a difference.
    Eco-Mother

    Answer by Eco-Mother at 4:22 AM on Oct. 4, 2009

  • There is a template in excel that will calculate this for you
    rkoloms

    Answer by rkoloms at 7:12 AM on Oct. 4, 2009

  • Are you looking for an equation to sort out your debt, is it a specific debt? I don't really understand what you are hoping to acomplish...i am happy to help..pm me with details..how much is your principal balance, your APR, and the original term of your loan? I can help you to minimize your total interest payments, but I need the three numbers I asked for. I also agree with a pp as long as you pay more than agreed on any debt, you will be able to pay it off early, AS LONG AS YOU ARE ON A SIMPLE INTEREST, NON CHATTEL LOAN, this isn't always true, some state laws vary, and some contracts supercede state law based on the contract terms you agree to in writing. I am happy to help, but can't tell you a dollaar amount without more info.PM me with details, i am happy to help you sort it out
    Cheapsk8mom

    Answer by Cheapsk8mom at 7:17 AM on Oct. 4, 2009

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