Figuring the original principal balance of a mortgage
Example 6: Enter the numbers in the boxes below. Do not enter a number in the box next to "Compute". Then click "Compute".
Try with different numbers and see how the original balance changes.
There are 12 payments a year of $859.68 a month. the original term of the loan is 360 months (30 years). The interest rate is 11% p.a. What is the original principal balance of the mortgage? Answer $90,265.02. As follows.
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