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    gp3811's Avatar
    gp3811 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 28, 2007, 11:34 AM
    Mortgage calculation
    If for every $1000 you pay 608 how much would that be if you borrow $300,000?
    Dr D's Avatar
    Dr D Posts: 698, Reputation: 127
    Senior Member
    		  
    #2

    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    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.
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