1. Select the year in which the first payment will start from the drop-down menu.
2. Enter the amount of the mortgage.
3. Enter the interest rate for the mortgage.
4. Select mortgage length from drop-down menu.
5. Press the calculate button.
6. The payment and interest amounts will appear in their respective boxes.
7. To start over press the reset button and repeat the process starting at step 1.
8. To check the amoritization of the loan, press the amoritize button. A new window will open and the amoritization schedule for the loan amount entered will appear.

Calculator Copyright © 1997 Steven D. Witkop