Enter your mortgage amount this is the Principal Loan Balance. For example suppose you owe 200000 on your mortgage and 500 of your current monthly payment is going toward the principal. Method 1 Calculating Interest Quickly and Easily.
Create a new amortization schedule for the length of time remaining see how to do that.
The monthly payment would be 59956 for both the standard and simple interest mortgages. Total Interest Cost 276037 USD. You can also enter the amount that you think you will offer. This calculation is accurate but not exact to the penny since in reality some actual payments may vary by a few cents.