How Do You Use A Simple Interest Amortization Schedule?
A simple interest amortization schedule is used for analyzing simple interest on large loans such as car loans or mortgages. They are particularly useful when refinancing a mortgage loan because they will allow you to compare the new quote to your existing loan. The following article will walk you through how to use a simple interest amortization schedule to get the best loan possible. Find a calculator. This is the best way to get the monthly payment and see how much interest you are going to pay upon refinancing a mortgage loan. You can find calculators online in many different forms. If you need one for regular use, you can even get downloadable ones that utilize Microsoft Excel to chart out your payments and display your interest for you. If you really like a challenge, a simple search online will produce an algebraic formula for generating a simple interest amortization schedule from scratch. If you are refinancing mortgage loan or taking out another large loan, you need to find o
