房屋贷款算法,计算器BA II PLUS

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Assume: House value 300,000
# l" i7 I. E" C        10% down payment
- a: `$ W. c! s% Q. N1 H* D        25 years mortgage (25 * 12 = 300 months)
        rate 5.24
, E' F' l4 P: m0 a
1.effective rate 0.43197466
' Q5 |# @8 }' p- c  in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly.
4 q8 P6 g% H: s0 Z0 l   1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466
/ i% J1 }" S7 V- e$ ]3 R( g2.Adjusted mortgage balance
$ F* n  f+ s$ d; ?1 f  300,000 * 10% = 30,000 downpayment
  300,000-30,000 = 270,000 mortgage requried
, ~) B2 ?" e# [% l6 z( P  270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)
( O, c; r3 B+ _9 u  ~1 Y  270,000 * 2% = 5,400
$ |0 S# p- E# o0 V& Z. ]  adjusted mortgage balance: 270,000 + 5,400 = 275,400
3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
% Q) E/ O) g/ O" z0 H4. TOTAL INTEREST PAID IN 25 YEAR ABOUT $216,157.48