WinAmort Professional 2.0

Fixed Rate Form - Example 1

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Fixed Rate Form - Example 1

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Fixed Rate Form - Example 1

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Fixed Rate - EXAMPLE 1

The Simsons take out a mortgage for $85,000 on October 15, 2010. The 25 year mortgage at 14.25% interest, compounded monthly, calls for monthly payments of principal and interest. First payment is due on November 15, 2010.



SolveSolve The Payment amount.









































Simsons’ House Mortgage in the Title field. This title will appear at the top of

the screen when the amortization table is generated.

TAB or use the mouse to move to the next field.

10-15-2010 for the Origination Date. This is the date on which the mortgage is

taken out.


ico_lite To enter the date in faster, click on the Calendar icon beside the field and then select the year, month and date.

11-15-2010 for the First Payment Date. This is the date on which the first payment

on the mortgage will be made. This date can also be computed automatically

by pressing the Compute button beside the field.

85000 in the Principal field.

14.25 in the Interest Rate field. The interest rate that you enter should always

be the annual interest rate. Note that the Effective Rate will automatically be

calculated and displayed (see Glossary for definition).

Check that the Compounded: is set to ‘Monthly’ as required for this example.

In Canada, all mortgages are compounded Semi-annually. Therefore, when

dealing with Canadian mortgages, the compounding frequency has to be set to

Semi-annually. This is why the default has been set to Semi-annually.

Since the Compounding is monthly, as required for this example, and the current

default setting is Semi-annually, we must change it.

the Arrow button beside the Compounding Frequency field to show a list of

possible compounding frequencies.


Monthly from the list.

Skip over the Payment field since this is what we need to compute.


25 in the Period field.


Move the highlight to the field beside the Period field and

the Down Arrow button to select the Period frequency.

Your current options will be ‘YEARS’ or ‘MONTHS’. Select “Years” for this

example. If you typed in 300 as the period, you could select ‘Months’ since 300

months is equivalent to 25 years.


Leave the Balloon Payment amount at zero since we don’t need it for this



Here is how your form should look at this point:


Fixed Rate - Example 1 Shot






Compute_button button beside the Payment field.



The monthly computed mortgage payment is $1039.49.


Fixed Rate - Example 1 Shot final