this is my current situation. I need to find out what my original principal was, and the payoff date. I know the APR (8% pa) but don't know if the balance is calculated monthly or daily (I suspect daily). I know the monthly payment ($763.90 due first business day after 20eth of the month) and I know the breakdown into principal payment vs interest payment for the last few months:
08/20/09 PRINCIPAL PAYMENT +$344.55
08/20/09 INTEREST PAYMENT +$419.35
07/20/09 PRINCIPAL PAYMENT +$355.59
07/20/09 INTEREST PAYMENT +$408.31
06/22/09 PRINCIPAL PAYMENT +$339.52
06/22/09 INTEREST PAYMENT +$424.38
Is this sufficient information or do I need something more? Trying to reconcile this info with Time Value of Money formulae is beyond my math abilities.