Need help figuring out how much of a mortgage payment is interest

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BrainStrain
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$1.00 Need help figuring out how much of a mortgage payment is interest

From Mathematics: General-Mathematics
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Due on Oct. 08, 2009
Asked on Oct 05, 2009 at 8:33:44PM

Q:

I have a question regarding mortgage payment calculation.

If I have a principle amount of $200,000

An interest rate of 5.75%

and a term of 30 years, then I know the monthly payment will be $1167.15

What I want to know is how I can figure out how much of each monthly payment is interest.

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Posted by:

MSandMBA
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$1.00 Answer and calculations

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Posted on Oct 05, 2009 at 8:52:49PM

A:
Preview: ... each month. The interest rate times this balance is the i ...

The full tutorial is about 47 words long plus attachments.

Attachments:
mortgage amortization.xls (89K)

Posted by:

sudipta

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$1.00 Formula provided

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Posted on Oct 05, 2009 at 9:01:18PM

A:
Preview: ... + r/12)^(12t) ] Here, P = 200,000 r = 5.75% t = 30 ...

The full tutorial is about 50 words long .

Posted by:

PriyankaGhiya
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Posted on Oct 05, 2009 at 9:53:37PM

A:
Preview: ... on attached. Let ...

The full tutorial is about 13 words long plus attachments.

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Solution.xls (74K)