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| Category | Finance |
| Latest version | N/A |
| Size | N/A |
| Requirements | All Platforms |
| License | Paid |
| Offered By | N/A |
Mortgage Payments Calculator is an app that can be used to approximately estimate the mortgage amounts when a person wishes to apply for a loan.
The calculations included in the software program are simplified.
Morgage Payment, A = [P * (r/100) * (1 + (r/100))^n] / [(1 + (r/100))^n - 1]
Term Balance, TB = P * [(1 + (r/100))^n – (1 + (r/100))^n1] / [(1 + (r/100))^n - 1]
(Where P = Principal, r = nominal annual interest rate %, n = total number of compounding periods, n1 = number of compounding periods for the term).
The user needs to select / fill in relevant input data under 'MainPage' sheet and then hit 'Submit' button, so the program calculates the values.
Hit 'Submit' Button everytime a change is made to the inputs so the program updates the sizing
