Mortgage Calculator

Purchase of a mortgage at a discount

Example 2: Enter the numbers in the boxes below. Do not enter a number in the box  next to "Compute". Then click "Compute".

Try with different required yields and see how the amount you can pay changes.

You are considering the purchase of a mortgage. There are 12 payments a year of $859.68 a month. 59 payments are left. You wish to purchase this mortgage to yield you 13% p.a. How much should you pay? Answer $37,332.84. As follows.

Remaining principal balance of the loan? (amount to pay)
Interest rate per yr? (in %)
Number of payments left (30 Yrs=360, 15 yrs =180)
Number of payments per yr?
Payment amount (usually monthly) ? (in $.c)

Home Choose Lesson Lesson 1 Lesson 2 Lesson 3 Lesson 4 Lesson 5 Lesson 6 Calculator Choose