Understanding the Mathematics of Personal Finance

BALLOON LOANS

A balloon loan is one in which the term of the loan (i. e., the number of payments) is just a number on which the monthly payments is calculated. After a relatively small number of years (5 or 10), the loan suddenly “balloons,” and the entire balance is then due in one lump payment. Assuming that you don ’ t happen to have this money in the bank, you can suddenly find yourself scrambling for a new loan with which to pay off the old loan. If this happens to you, hope that interest rates have gone down, or at least haven’t gone up very much since you took the loan.

tn my spreadsheet, on either tab, the balloon payment at a given payment number is just the balance plus the monthly payment (remember that the balance entry is the outstanding loan balance after the monthly payment has been made).

Looking at Table 4.3, for example, the loan payoff amount at payment number 72 is $163,160.39 + $1,526.20 = $164,686.59.

Добавить комментарий

Understanding the Mathematics of Personal Finance

PAYING OFF A LOAN VERY SLOWLY

This section uses a little math, but I’ll go through it slowly in small steps. As with the previous section, this section is not necessary if you don’t want to …

Taxation and Inflation

John Lennon once said, “Life is what happens to you while you’re busy making other plans.” Both taxation and inflation, it seems, are parts of life—they happen to you while …

PARI-MUTUEL BETTING

The pari-mutuel machine system used at race tracks offers a different approach to gambling. A roulette wheel owner is never sure what his or her daily operating cost will be; …

Как с нами связаться:

Украина:
г.Александрия
тел./факс +38 05235  77193 Бухгалтерия
+38 050 512 11 94 — гл. инженер-менеджер (продажи всего оборудования)

+38 050 457 13 30 — Рашид - продажи новинок
e-mail: msd@msd.com.ua
Схема проезда к производственному офису:
Схема проезда к МСД

Партнеры МСД

Контакты для заказов шлакоблочного оборудования:

+38 096 992 9559 Инна (вайбер, вацап, телеграм)
Эл. почта: inna@msd.com.ua