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JTP - Apologise to Monica ♦
JTP - Apologise to Monica ♦
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I have a 30 year fixed-rate mortgage. Yearly interest rate is r. If my initial principal is P and monthly payment is p, but this month i decide to pay p+Delta, how do i calculate how much of the (p+Delta) goes to the principleprincipal, and how much goes to the interest?

I have a 30 year fixed-rate mortgage. Yearly interest rate is r. If my initial principal is P and monthly payment is p, but this month i decide to pay p+Delta, how do i calculate how much of the (p+Delta) goes to the principle, and how much goes to the interest?

I have a 30 year fixed-rate mortgage. Yearly interest rate is r. If my initial principal is P and monthly payment is p, but this month i decide to pay p+Delta, how do i calculate how much of the (p+Delta) goes to the principal, and how much goes to the interest?

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JTP - Apologise to Monica ♦
JTP - Apologise to Monica ♦
  • 172.6k
  • 34
  • 297
  • 560

I have a 30 year fixed-rate mortgage. Yearly interest rate is r. If my initial principleprincipal is P and monthly payment is p, but this month i decide to pay p+Delta, how do i calculate how much of the (p+Delta) goes to the principle, and how much goes to the interest?

I have a 30 year fixed-rate mortgage. Yearly interest rate is r. If my initial principle is P and monthly payment is p, but this month i decide to pay p+Delta, how do i calculate how much of the (p+Delta) goes to the principle, and how much goes to the interest?

I have a 30 year fixed-rate mortgage. Yearly interest rate is r. If my initial principal is P and monthly payment is p, but this month i decide to pay p+Delta, how do i calculate how much of the (p+Delta) goes to the principle, and how much goes to the interest?

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Overpaying my mortgage monthly payment

I have a 30 year fixed-rate mortgage. Yearly interest rate is r. If my initial principle is P and monthly payment is p, but this month i decide to pay p+Delta, how do i calculate how much of the (p+Delta) goes to the principle, and how much goes to the interest?