How to Calculate a Loan Payment

hey YouTube this is general expert here

and I quickly just wanted to go over how

to calculate a loan like a mortgage on

using a mortgage calculator these things

are kind of you know hard to use but

anyway I just wanted to go over how to

do it so I'll show you for an example

like a $300,000 loan so you're just

going to type in 300,000 okay sorry it's

kind of hard to see my finger and film

at the same time so 300,000 and you're

going to press the PV button okay and

then what you're going to do is when you

have your interest rate like I'm going

to put in for example five percent so

I'll just type a number five and then

click the I why okay and then next

you're going to do the amount of time

the loan is going to be dispersed so for

instance this is a mortgage so usually

mortgages are thirty years but you're

going to do that in terms of months

which is 360 months so you type 360 that

is 360 there that's my calculators a

little messed up there is a three there

but 360 and then you type N okay and

then all that's left is go to compute

payment okay so there you see sixteen

hundred and ten dollars and what does it

look like here 46 cents it's a sixteen

ten forty six um so that is principal

and interest only so that gives you a

pretty good idea of how to use a

calculator to calculate your mortgage

interest also you can use that for you

know like a car loan if you're wondering

on a car you know what your payment

might be but this gives you the

principal and interest only not your

escrow say for a mortgage but anyway

that's a quick tip on how to use a

mortgage calculator thanks guys