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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.

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

• Perhaps this can help but there are other calculators out if this doesn't work for you.

## Calculate and analyze a monthly mortgage payment.

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

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

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!

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.

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?

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.

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

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

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