i get results nearly the same as form online mortgage calculator, but

**not exactly**the same.

Where is the problem?

I'm trying to find the right formula to calculate mortgage installment. If I use

i get results nearly the same as form online mortgage calculator, but**not exactly** the same.

Where is the problem?

i get results nearly the same as form online mortgage calculator, but

Where is the problem?

We don't know what formula the calculator is using, what the variables in your formula stand for, what your results are, or what the inputs were. There's no way we can analyze whatever it is that you're seeing.I'm trying to find the right formula to calculate mortgage installment. If I use

i get results nearly the same as form online mortgage calculator, butnot exactlythe same. Where is the problem?

Using 200,000 borrowed, over 25 years, rate 6% annual compounded monthly

P = Payment (?)

A = Amount borrowed (200000)

n = number of payments (25 * 12 = 300)

i = periodic (monthly) interest rate (.06/12 = .005)

Formula:

Let v = 1 / (1 + i)^n

P = Ai / (1 - v)

v = 1 / 1.005^300 = .22396....

P = 200000(.005) / (1 - .22396...) = 1,288.60

P = Payment (?)

A = Amount borrowed (200000)

n = number of payments (25 * 12 = 300)

i = periodic (monthly) interest rate (.06/12 = .005)

Formula:

Let v = 1 / (1 + i)^n

P = Ai / (1 - v)

v = 1 / 1.005^300 = .22396....

P = 200000(.005) / (1 - .22396...) = 1,288.60