How To EASILY Make An Amortization  Schedule | Contemporary Mathematics
Channel: MathHub TV
Date: 02/04/2021

In this lesson, I am going to show you how to make an amortization schedule.  Given the amount of mortgage, the annual rate, monthly payment and term of a loan, I will show you how to get the amount of the monthly payment that goes to the principal and the amount that goes to the interest.  This lesson is part of the course Contemporary Mathematics.

⏲️ Timestamps ⏲️
Introduction (0:00)
Problem (0:03)
How to get the interest payment for the first month (0:23)
How to get the amount of monthly payment that goes to principal (1:00)
How to get the balance of the loan after the first payment (1:25)
How to get the interest payment for the second month (1:50)
How to get the amount of monthly payment that goes to principal (2:06)
How to get the balance of the loan after the second payment (2:39)

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