@kidrobottauthorFeb 18.2008 — #i searched "amortization" on this forum and on google before I posted but i either got the amortization for a house or i got taken to that page with amortizationcalc11.js which is not available anymore.
@zincoxideFeb 18.2008 — #Is it just the formula that you are looking for?? If so, are you looking to solve for the number of payments, total loan amount, payment amount or what?
@zincoxideFeb 18.2008 — #You have to manipulate an annuity formula:
PV = PMT [ 1 - (1 + i)^-n / i ]
If you need help, let me know, but you have to set -n to the number of compounding periods. So, for example, if you are calculating monthly paymens and you have a 5 year term, you need to use -60 as the -n number.
PV will be the amount that is left owing. Then you have to calculate the difference between PV and the amount you started with to find out how much principal was paid, then you have to total the amount of the PMT's and figure the difference to calculate how much interest was paid.
If that isn't clear, or you need help, let me know.