Calculate mortgage or loan payments and amortization table using both: the exact formula and the approximate formula used by some banks.
Calculate mortgage or loan payments and amortization table using both: the exact formula and the approximate formula used by some banks.
Compound interest is the only interest rate used in serious finances. It allows to compare products and to create competition. However, public mortgage quotas are calculated using an approximated formula (a mix between compound and simple interest). Apart from creating ...
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