段階的な説明
Gather Your Inputs
First, identify the principal loan amount (P), the initial interest rate, and the number of payments (n). For example, let's say you have a $200,000 loan with an initial interest rate of 4% and a 30-year term. The monthly interest rate (i) is 4%/12 = 0.003333.
Convert the Interest Rate to Monthly
Next, convert the annual interest rate to a monthly rate by dividing by 12. Using the example above, the monthly interest rate is 0.003333.
Calculate the Number of Payments
Then, calculate the total number of payments (n) by multiplying the number of years by 12. For a 30-year term, n = 30 * 12 = 360 months.
Apply the Formula
Now, plug in the values into the formula: M = 200,000 [ 0.003333(1 + 0.003333)^360 ] / [ (1 + 0.003333)^360 – 1]. Calculate the value inside the brackets first, then calculate the monthly payment.
Create an Amortization Schedule
Finally, create an amortization schedule by calculating the interest paid and the principal paid for each month. The interest paid is the outstanding balance multiplied by the monthly interest rate, and the principal paid is the monthly payment minus the interest paid.
Using the Calculator for Convenience
While calculating the ARM mortgage by hand is possible, it can be time-consuming and prone to errors. For convenience and accuracy, use a free financial calculator to get instant results with an amortization table, formula, and chart.
Introduction to ARM Mortgage Calculator
The Adjustable-Rate Mortgage (ARM) calculator is a tool used to calculate the monthly payment, total interest paid, and amortization schedule of an ARM loan. In this guide, we will walk you through the steps to calculate ARM mortgage by hand.
Understanding the Formula
The formula to calculate the monthly payment (M) of an ARM loan is: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1] Where:
- M = monthly payment
- P = principal loan amount
- i = monthly interest rate
- n = number of payments
Step-by-Step Calculation
To calculate the ARM mortgage by hand, follow these steps: