52, the compound period can be rather confusing different countries accumulate mortgage interest at different points in the year. You can quickly create a spreadsheet in Microsoft Excel to perform the calculation for you-and, in the process, gain a greater understanding of just how a mortgage loan what is a tri fold works. Don't need any special skills, save two hours every day! It offers a complete set of options in an easy-to-use interface, and gives you the total interest paid at the end of your mortgage term. You can download the spreadsheet from the link at the bottom of this post. Briefly, but PMT takes three arguments the interest rate per payment, the total number of payments across the lifetime of the mortgage (this is the number of payments per year multiplied by the amortization period and the loan amount. Other jurisdictions may have other compound periods, so double-check if youre not sure. For most of modern people, to calculate monthly mortgage payment has become a common job. When you take out a fixed-rate mortgage to buy or refinance a home, your lender takes three numbers and plugs them into a formula to calculate your monthly payment. And there you have it! Get this spreadsheet here. If you want to calculate the total loancost, you can use this formula B6*B5, B6 is the payment per month, B5 is the total number of payments months, you can change as you need. Once this has been entered, the summary box on the top left of the spreadsheet will chinese new year party invitation card display the date of the final payment and the date of each of the scheduled payments will be displayed in the bottom half of the spreadsheet.