On 19 Sep 98, at 17:44, Rainmaker wrote:
> >Sorry but what motgage is exactly?
> >If it is:
> >I have X $$$ in the bank, evry year they become X $$$ + 5%... how
> >many $$$ I'll have after 10 years?
> >The formula is
-- snip --
> If it were so easy. With a mortgage, the first half of the life
> of the mortgage most money goes to interest. Hence they use a
> different formula, i.e., Rule of 78's.
My ignorance is on the economic side not on the math side... once
I know what a mortgage is I'll write down the formula.
For example what does it mean annual interest rate, if you've to pay
monthly???
Does it mean that if you want to end the mortgage in 1 year you'll
have to pay debt+debt*percent?
But I think this is not the right place to take some lesson on
economics... :-)
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Ivan Sergio Borgonovo [EMAIL PROTECTED]
Webmaster Gorilla Bookstore http://www.gorilla.it
Tel. +39 2 3311105/34530455 Fax. +39 2 34531591
Via Mac Mahon 9, Milano, Italy
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