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Question by  Katie6529 (56)

How do you calculate your mortgage payment?

 
+5

Answer by  cmkekbif (778)

This process can vary if you are calculating an adjustable rate or balloon ARM loan. The basic way to do it with a 30 year fixed rate loan is take the entire loan amount and divide by 30. Take that figure and multiple by percentage and then add those 2. Last divide by 12.

 
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