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View Full Version : Mortgage calculation


gp3811
Feb 28, 2007, 11:34 AM
If for every $1000 you pay 608 how much would that be if you borrow $300,000?

Dr D
Feb 28, 2007, 12:38 PM
I believe that you meant to say that for every $1000 the payment is $6.08, not $608. At $6.08 per $1000, assuming a 30 year loan, that would translete to an interest rate of 6.131%. Take $6.08 x 300 = $1824/mo for a $300,000 loan.

ScottGem
Feb 28, 2007, 12:41 PM
If you pay x amount per 1000 and you want to find the amount you would pay for $300K, then its simple multiplication.

Windows comes with a calculator under Start>Accessories. I suggest you learn to use it.