How to calculate monthly payment via LOAN?, housing loan here
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 Jun 22 2007, 01:36 PM, updated 19y ago
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#1
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Senior Member
4,540 posts Joined: Jan 2003 From: Sing-a-poor / Kayell / Jay-Bee   
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Hey guyz, I'm thinking of buying a house and plan to borrow 100k from bank. Anyone of you can guide me on how to calculate the total payment I have to pay to bank?! Preferable somebody who had experience or just bought the house recently. THanks!
Loan Amount : 100k Annual Interest Rate : 6.75 % Repayment period : 20 years So how much is the total interest I should pay and monthly payment?? Please teach me step-by-step , not by using those calculator that u can find in website. I don't understand the calculation step..that's all!  thank!This post has been edited by eric84cool: Jun 22 2007, 01:36 PM |
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Jun 22 2007, 05:20 PM
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#2
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Senior Member
4,540 posts Joined: Jan 2003 From: Sing-a-poor / Kayell / Jay-Bee
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QUOTE(Rusty Nail @ Jun 22 2007, 02:11 PM) monthly installment: RM979.16 yours is 100 % wrong...even kindergarden kids also can tell that..... total paid to bank: RM 235k total interest paid: RM 135k pls check my working, might have made some mistake   Added on June 22, 2007, 5:24 pm QUOTE(ejleemy @ Jun 22 2007, 01:50 PM) The method is known as armotization. You gotta need a spreadsheet program (ie. excel) to do it. Do a google search, discover the concept behind and create the excel chart yourself. It will give you a full understanding on how it works. thanks man!!! Added on June 24, 2007, 11:31 amanyways, anybody know what's real gain property tax act 1976??? Added on June 24, 2007, 11:31 amanyways, anybody know what's real gain property tax act 1976??? This post has been edited by eric84cool: Jun 24 2007, 11:31 AM |
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