How much was spent in interest between the outstanding principle after 5 years, and the outstanding Principle after 10 years.
on a 225,000 loan.
interest rate: 4.948 %
a 30 year mortgage.
principle outstanding after 5 years = $20,6462.32
principle outstanding after 10 years = $18,2731.88
just a bit stuck on what formuals to use... and what values to input.
any help would be great!