Wednesday
March 29, 2017

Post a New Question

Posted by on .

Say i have a mortgage of 200,000. One bank offers 5.oo%. The other offers 5.23% How do i calculate the interest paid over say 5 yrs. thanks


You haven't given us enough information to calculate the interest.

You need to know how much you're paying each year on your mortgage. Your interest the second and succeeding years will vary depending upon how much of the principle you pay each year. If you've paid off $5,000 of the principle in the first year, your interest costs will be different than if you've paid off $10,000 the first year.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question