Intrest calculation part.

The mortgage calculation formula uses the nominal intrest rate whereas banks often mention the effective intrest rate. Check with your bank what type of intrest they mentionned to you. In case of doubt fill in the Effective intrest rate and click on the "Convert to nominal" button to obtain the nominal intrest. The nominal intrest rate will be rounded to the digits chosen on a monthly basis!

The Mortgage

The mortgage calculation will use the Nominal intrest as explained in the previous section.

Fill in at least the number of years to downpay your mortgage. Then you have three options.

• To calculate the payments fill in the amount to borrow and click on the "Calculate" button next to the PMT field.
• To know how much you can borrow fill in the PMT field with the payments you can afford and click on the "Calculate" button next to the PV field.
• Based on a total amount paid at the end of the loan you can calcuate the payments and the loan amount as well with the button "Calculate PMT & PV".

After making any calculation you may click on the "Complete Amort Table" button. This will open a new window with all the data and the complete amortization table. Please note that for rounding error reasons (or rather to avoid the errors) the PMT will be recalculated up to all decimals (internally). This is why your value will be overwritten in the PMT field in any case.
Please note that this will open only one window. Each consecutive table will replace the previous table in that same window.

The figures

Effective IR	%
using	1 2 3 4 decimals.
Nominal IR	%
Period to reimburse the loan	years
Loan amount (PV)
Monthly payment (PMT)
Total paid
Round amounts to	0 1 2 decimals.

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