mtgobsessed
New member
- Joined
- May 15, 2009
- Messages
- 5
Hi,
I usually use a mortgage spreadhseet to calculate the amortization schedule but I want to be able to do this using math on my own to fully comprehend the concepts behind it. I am using an example of a mtg of 200,000 5% compunded semi annually, 30 year amortization with bi weekly payments. For quickness sake I got the payment off the financial calculator although thanks to this lovely forum I can get it with a pen and paper too now. the biweekly pmt would be: 492.0917353... SO an excel spreadsheet tells me 380.25 is interest and 111.84 is principal. (onthe first payment for now)
How do they get this!? and if possible is there a special function on the TI BA II Plus that allows me to do that?
BUT mainly just wish to see how i could separate that 492.09 into p and i using old fashion math!
Much appreciated
I usually use a mortgage spreadhseet to calculate the amortization schedule but I want to be able to do this using math on my own to fully comprehend the concepts behind it. I am using an example of a mtg of 200,000 5% compunded semi annually, 30 year amortization with bi weekly payments. For quickness sake I got the payment off the financial calculator although thanks to this lovely forum I can get it with a pen and paper too now. the biweekly pmt would be: 492.0917353... SO an excel spreadsheet tells me 380.25 is interest and 111.84 is principal. (onthe first payment for now)
How do they get this!? and if possible is there a special function on the TI BA II Plus that allows me to do that?
BUT mainly just wish to see how i could separate that 492.09 into p and i using old fashion math!
Much appreciated