Monthly Mortgage Payment Solution

STEP 0: Pre-Calculation Summary
Formula Used
Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1)
p = (Mortgage Amt*R*(1+R)^n)/((1+R)^n-1)
This formula uses 4 Variables
Variables Used
Monthly Payment - The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off.
Mortgage Amount - Mortgage Amount is a regularly scheduled payment which includes principal and interest paid by the borrower to the lender of the home loan.
Interest Rate - Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.
Compounding Periods - Compounding Periods is the number of times compounding will occur during a period.
STEP 1: Convert Input(s) to Base Unit
Mortgage Amount: 26000 --> No Conversion Required
Interest Rate: 6 --> No Conversion Required
Compounding Periods: 10 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
p = (Mortgage Amt*R*(1+R)^n)/((1+R)^n-1) --> (26000*6*(1+6)^10)/((1+6)^10-1)
Evaluating ... ...
p = 156000.000552261
STEP 3: Convert Result to Output's Unit
156000.000552261 --> No Conversion Required
FINAL ANSWER
156000.000552261 156000 <-- Monthly Payment
(Calculation completed in 00.020 seconds)

Credits

Created by Team Softusvista
Softusvista Office (Pune), India
Team Softusvista has created this Calculator and 600+ more calculators!
Verified by Himanshi Sharma
Bhilai Institute of Technology (BIT), Raipur
Himanshi Sharma has verified this Calculator and 800+ more calculators!

7 Mortgage and Real Estate Calculators

Monthly Mortgage Payment
Go Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1)
Cost Approach Appraisal
Go Property Value = Reproduction Cost-Depreciation+Value of Land
Vacancy Rate
Go Vacancy Rate = (Vacant Units in the Building*100)/Total Units in the Building
Price per Square Foot
Go Price per Square Foot = Property Sale Price/Total Square Footage
Rental Yield
Go Rental Yield = (Annual Rental Income/Property Value)*100
Floor Area Ratio
Go Floor Area Ratio = Gross Floor Area/Total Lot Size
Debt Ratio
Go Debt Ratio = Total Debt/Total Assets

Monthly Mortgage Payment Formula

Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1)
p = (Mortgage Amt*R*(1+R)^n)/((1+R)^n-1)

How to Calculate Monthly Mortgage Payment?

Monthly Mortgage Payment calculator uses Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1) to calculate the Monthly Payment, A monthly mortgage payment is an amount a borrower is required to pay each month until a debt is paid off. Monthly Payment is denoted by p symbol.

How to calculate Monthly Mortgage Payment using this online calculator? To use this online calculator for Monthly Mortgage Payment, enter Mortgage Amount (Mortgage Amt), Interest Rate (R) & Compounding Periods (n) and hit the calculate button. Here is how the Monthly Mortgage Payment calculation can be explained with given input values -> 156000 = (26000*6*(1+6)^10)/((1+6)^10-1).

FAQ

What is Monthly Mortgage Payment?
A monthly mortgage payment is an amount a borrower is required to pay each month until a debt is paid off and is represented as p = (Mortgage Amt*R*(1+R)^n)/((1+R)^n-1) or Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1). Mortgage Amount is a regularly scheduled payment which includes principal and interest paid by the borrower to the lender of the home loan, Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets & Compounding Periods is the number of times compounding will occur during a period.
How to calculate Monthly Mortgage Payment?
A monthly mortgage payment is an amount a borrower is required to pay each month until a debt is paid off is calculated using Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1). To calculate Monthly Mortgage Payment, you need Mortgage Amount (Mortgage Amt), Interest Rate (R) & Compounding Periods (n). With our tool, you need to enter the respective value for Mortgage Amount, Interest Rate & Compounding Periods and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
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