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Articles about
Math And Money
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Link
to more articles at bottom of page |
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Submit
a Household Math™ Question
Do you have a really good Household Math™
question?
Whether it's a problem that you want to share or a problem that you need the
answer to we are interested!
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How
Do You Get that Loan Formula?
Scott,
I read with interest your article, Amortized Loans. At the
end of the article you indicate the explanation of how to derive the
formulae as being covered in another article. Can you please
tell me where I can find this? Thank you very much, Luke
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Household
Math™: Mortgage Math
The
balance on my mortgage today is $59,200. The interest rate is 7% APR
and the monthly payment is $623.00. What will the balance on the
mortgage next month after that monthly payment?
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Household
Math™: Last Mortgage Payoff
Dear
Scott, My question is, I want to pay my $138,000, 5.125% APR,
15-year mortgage, off early. We just refinanced. My first payment is
July 7th. We plan on making one extra mortgage payment a year but I
would like to add an extra $100.00 monthly to principal only. By
doing these two extras, how early will I pay my mortgage off?--Leah
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Household
Math™: What does Jenna owe?
Jennafer
read Scott Bilker's, Talk Your Way Out of Credit Card Debt
and called her credit-card bank in the hopes of reducing her
interest rate. Armed with the techniques from the book she was
successful at reducing her rate by 5 percent to 9.9 percent! After
doing the math she calculated that she would pay the debt back one
year faster and save a total of $3,012! How much does she owe the
bank--what is her balance now?
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Household
Math™: Debt Snowball (Paying Back Lower-Balance Cards First)
David
Sheepsley has two credit cards with balances. Card A has a balance
of $8,000 at 19.8% and minimum payments of $160 per month. Card B
has a balance of $6,000 at 5.9% with minimum payments of $120 per
month. David has a total of $400 per month to use for repaying his
credit cards. What's the better plan for David?
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