Incorrect data
It would appear that your calculations are not correct. The value given is half the actual amount. Check your math please.
Amortization is Totally Wrong
Data input:
Amount borrowed: $1,000,000
Annual Interest Rate: 3.50%
Number of years: 30
Results returned:
Monthly Payment: 2,825.31
Total interest: $17,111.00
Total payment: $117,111.00
Definitely wrong.
how can total interest is only $17,111 when $1 Mil is amortized over 30 years with annual interest rate is at 3.50%??
Amount borrowed: $1,000,000
Annual Interest Rate: 3.50%
Number of years: 30
Results returned:
Monthly Payment: 2,825.31
Total interest: $17,111.00
Total payment: $117,111.00
Definitely wrong.
how can total interest is only $17,111 when $1 Mil is amortized over 30 years with annual interest rate is at 3.50%??
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Rubbish !
Monthly installment amount & affordable loan totally wrong !
