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Answer by Chris Degnen for Time Value of Money — Interest Paid on Mortgage
With s as the loan amounthse = 328000s = hse (1 - 0.25) = 246000and r the monthly ratei = 0.04r = (1 + i/2)^(2/12) - 1 = 0.00330589n = 25*12 = 300the payment amount d isd = r (1 + 1/((1 + r)^n - 1)) s...
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Answer by base64 for Time Value of Money — Interest Paid on Mortgage
Edit:Actually, since you already got the Outstandind Principal right after 84 months = $199,539.6457, you knew that:Total Principal Paid = 246,000 - 199,539.6457 = $46,460.3543Total Interest Paid = 84...
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You you bought a house worth $328,000. You paid 25% of the purchase price in cash and arranged a 25 year mortgage with a rate of 4.0% compounded semi-annually for the remaining balance. The mortgage...
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