repay each time (in your case 3 month)=436
Final amount needs to pay by end of 3 month = 42519.11
so the interest chared is 2519.11 for 3 month
I have a mortgage of $40.000. The term of duration is of 25 years, being applied interest rate of annual 12.5% being accumulated to the balance of debt nonamortized. The value of each quota is of $ 436. With these data they ask to me to calculate the paid amount of the interest during the first three month.
Threads now merges. CB
Then after one month the remaing debt is:
after two month:
after three month:
So you have paid off dollars all the rest of the payments were for interest.