Business Math - Finance Math (29 of 30) Amortization - Accelerated Payments: Time Remaining

[@europeanlegend9347]

Great video! How would I calculate this on a 15 year amortization with three 5-year terms. With the last two terms being accelerated with an additional $450/month being split across bi-weekly payments for the second term and weekly payments for the third term until the loan is paid off? I'm stumped on how to calculate the principal amounts paid in each term with the additional contributions and each term having different interest rates.

[@ashokpaswan1904]

Sir best video

[@ZiaSyed_USA]

Hi, how do I calculate time remaining in the scenario where a person changed acceleration during middle of term. As an example, John is paying $ 200 per month from start of amortizationlet say in year 2010. After 5 years (year 2015) he progress in his carrier and add additional 200 in monthly. Thanks!

[@MichelvanBiezen]

You would have to calculate it in 2 steps. Do the first 5 years. Then use that as the base input and start adding the new payment.

[@darru]

@@MichelvanBiezen Could you show the math for these 2 steps, i'm struggling to understand this part and it is a very good question. These videos have helped a great deal.

[@survivalecurioschat2194]

8.363 is more accurate and should of been kept vs 8.37?

[@MichelvanBiezen]

+Survival E I get these types of questions often. The number of significant figures you keep depends on how significant they are. If you were a loan agent helping a client understand how many years left on the loan, you probably want to tell your client 8.4 years.

[@MichelvanBiezen]

+Survival E I get these types of questions often. The number of significant figures you keep depends on how significant they are. If you were a loan agent helping a client understand how many years left on the loan, you probably want to tell your client 8.4 years.

[@ashokpaswan1904]

Sir all financial math and Business math solav problem Commerce. Subject account

[@ashokpaswan1904]

My no. 9476115473

[@curtpiazza1688]

Great advice! 😂

[@MichelvanBiezen]

Something we do ourselves. It saves money in the long run.

[@Clifffffffffford]

Thanks!