Loan/Mortgage payments with "adjusted" principle (eg after an extra principle payment), SOLVED

[Mike or Penny Novack]

On 7/14/2017 1:18 PM, azalea4va wrote:

>
> There are four "variables in loan calculations: starting principle, interest
> rate, term (number of payments), and monthly payment.  Given any 3, the
> fourth can be computed.  Given those four values, one can compute how any
> month's payment will be split between interest and principle.
Sorry, but this is NOT true. Those are enough to calculate the 
APPROXIMATE amounts but not the exact amounts. There are simply too many 
other assumptions being made when constructing an amortization table and 
no way to assume that any two people doing ti will make the same 
choices. Examples:

a) method? << by "present value" of series of "rents" or by "trial and 
error" >>
b) where will rounding take place?
c) how will the final payment be figured?

Michael D Novack