I have a worksheet in which i need find monthly mortage payments. Here is an example: Initial principal=$200,000 Increment=$10,000 Starting Interest 6.00% Interest increment 1.00% Term of Years=15.
What would be monthly payments if starting intrest increases in 1% inrements eg. 6%, 7%.. and the increment of $10,000 to intial payment, eg 200,000, 210,000, 220,000 and so on..
What would be formula to calculate monthly payments.
Thanks for help.
What would be monthly payments if starting intrest increases in 1% inrements eg. 6%, 7%.. and the increment of $10,000 to intial payment, eg 200,000, 210,000, 220,000 and so on..
What would be formula to calculate monthly payments.
Thanks for help.
