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POSTED BY ON April 24, 2012 7:39 pm COMMENTS (3)
I would like to know if there are any existing calculator which will take in floating rates as inputs and give Loan Amortization .
I have a home which started with interest rate 9.25% and it changed to 10% and then to 10.5% now.
I would like to know how to if there is a calculator to input this changes
I need this cause i found out that in home improvement loan after paying 3 EMI still the tenure left was shown as 179 months which started at 180 months though there was no change of interest in between. When inquired they said its a updating mistake and will be corrected.
Now this makes me suspicious on my Home loan tenure calculation too. Which started at 240 and its still in same 240 after 13 EMI. This went through interest rate change in between like i said above.
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Dear TheZionView, you can use the Loan Amortization Template of Excel already available in your PC.
Thanks
Ashal
Search google and you will find such calculator. Then post that link here also for others benefits.
Why dont you do it in excel yourself .. its very simple way of doing it , just make each month row and have a interest column (which can vary each month, because you want floating rate scenario) , just keep calculating each month interest based on that month outstanding and this way you can do for all the months .