How is the interest on my mortgage calculated?
Method 3 of 3: Calculating Mortgage Interest Manually Understand the equation. In order to calculate interest paid on a mortgage loan, we will calculate the monthly payment and then use the simple method from method 1 above ... Input your information into the equation. You will need to input your principal, monthly interest rate, and number of payments in order to find your monthly payment. Simplify your equation by adding 1 to the "r. " Simplify your terms by doing the first step in the order of operations, which is adding the 1 and ... More items...
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