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sidjun
searching PlanetScale…
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by
sidjun
7y ago
Most of the time, the total interest paid is included in the amortization plan. It's also easy to figure out. Using my example, the exact payment was $536.82. $536.82x12x30=$193,255.20 Total($193,255.20)-Principal($100,000)=TotalInte
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by
sidjun
7y ago
Let's break this down with a simple example: You get a 30yr mortgage for $100,000 at 5% If you paid $0 on principal your first year, the interest would be $100,000x0.05=$5000 Make it monthly: $5000/12=$416.67 rounded up to $417 On