Graphic Mortgage Calculator

Posted by Preet on Apr 26, 2008 | 5 comments

For a user-friendly mortgage calculator, enter in your data below and hit calculate – a very nice graphical representation of the rest of your mortgage is provided. It’s nice to see a mortgage calculator with a little artistic flare! :) For a more in-depth explanation and for slightly more detailed reporting, you can visit the website of this calculator provider, MLCALC.com.

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Preet

Hi FT - here is what MLCALC said:

Interest is calculated monthly, using standard US formula:
M = P * ( J / (1 - (1 + J) ^ -N))
where
J = I / (12 x 100)
I = Annual interest rate
P = Principal
N = Number of months

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Preet

You're welcome MG - glad to be of service. :)

FT - I don't know, but I sent an email to MLCALC for clarification and will let you know what they tell me.

Preet

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MillionDollarJourney

How often is the interest compounded with this calc?

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moneygardener

very cool calculator, thanks!

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