7-5-1

Amortization

7-5 Amortization

This calculator can be used to calculate the principal and interest portion of a monthly installment, the remaining principal, and amount of principal and interest repaid up to any point.

uFormula

a

1 payment

c

b

1..............

PM1.....................

PM2 ............

Last

Number of Payments

a: interest portion of installment PM1 (INT )

b: principal portion of installment PM1 (PRN )

c: balance of principal after installment PM2 (BAL)

e

1 payment

d

1...............

PM1..................

PM2 ...............

Last

Number of Payments

d: total principal from installment PM1 to payment of installment PM2 (ΣPRN )

e: total interest from installment PM1 to payment of installment PM2 (ΣINT )

*a + b = one repayment (PMT)

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