Calculator Instructions
This calculator performs two functions:
1. It will generate values for a monthly payment, the total interest paid and total payments made, over the life of a given mortgage.
2. It will also generate an amortization table for the values entered. The calculations are for a fixed rate mortgage.
This calculator is believed to be accurate, but is only intended to generate approximate results.
Operation:
Enter the Full Sale Price, Percent Down, Interest Rate, and Number of Payments, then either click on the CALCULATE or AMORTIZE button.
UPDATE CALCULATIONS button, will complete the fields on this page with the Total Interest Paid and Total Payments Made for the life of a mortgage.
FORMAT AND VIEW AMORTIZATION TABLE button will generate an Amortization Table for the mortgage values entered in a NEW window. To return to this page from the Amortization Table close the window with the formatted view of the report.
TO AVOID ERROR MESSAGES AND MISLEADING RESULTS:
Enter NUMBER and DECIMAL characters only. Do not enter " $ ", " , " or " % " characters. (Example: For a $100,000 home, enter 100000 or for 7.5% enter 7.5 or .075 )
To assure accurate results, this calculator evaluates your entry when you attempt to move the cursor position from the text box after making a change, by either clicking the mouse or pressing the tab key. After establishing your entry as valid, it will update all calculations possible and will then reselect the text box with your new entry. You can then enter a new value or move to the next field
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