HELPFUL CALCULATORS

Next Joe changes the Years to repay to 20 years, and leaves the amount and interest rate unchanged. The results come back with a monthly loan payment of $1,279. Anne writes down the total amount payable over 20 years: $307,051, of which $107,051 (34.9%) is in interest payments... The total amount that will be paid to the lending institution over the life of the mortgage. That is the principal plus the total interest accrued... Calculate your monthly mortgage repayments, given amount of mortgage, years to repay and interest rate.