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Total Interest

This mortgage loan worksheet calculates key details of a home loan for a $250,000 purchase price with a 20% down payment, 30-year term, and 8% interest rate. It shows the down payment would be $50,000, loan amount $200,000, monthly payment $1,467.53, and total payments including $328,310 in interest over the life of the loan. The same total interest amount is calculated using an intermediate "megaformula" approach or non-megaformula individual calculations.

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Dreamer_Shopno
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58 views2 pages

Total Interest

This mortgage loan worksheet calculates key details of a home loan for a $250,000 purchase price with a 20% down payment, 30-year term, and 8% interest rate. It shows the down payment would be $50,000, loan amount $200,000, monthly payment $1,467.53, and total payments including $328,310 in interest over the life of the loan. The same total interest amount is calculated using an intermediate "megaformula" approach or non-megaformula individual calculations.

Uploaded by

Dreamer_Shopno
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Mortgage Loan Worksheet Mortgage Loan Worksheet

Intermediate Formulas (Megaformula)


Input Cells Input Cells
Purchase Price $250,000 Purchase Price
Down Payment Pct. 20% Down Payment Pct.
Loan Term 360 Loan Term
Interest Rate 8.00% Interest Rate

Result Cells Result Cells


Down Payment: $50,000
Loan Amount $200,000
Monthly Payment $1,467.53
Total Payments $528,310
Total Interest $328,310 Total Interest

Non-megaformula:
ge Loan Worksheet
(Megaformula)
Input Cells
$250,000
20%
360
8.00%

Result Cells

$328,310

$328,310

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