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URL:https://www.learndesk.us/class/6271362765160448/lesson/6d399c8ce19df1aec16132560e40e5e8?ref=outlook-calendar
SUMMARY:Amortization Calculation
DTSTART;TZID=America/Los_Angeles:20260405T190000
DTEND;TZID=America/Los_Angeles:20260405T200000
LOCATION:https://www.learndesk.us/class/6271362765160448/lesson/6d399c8ce19df1aec16132560e40e5e8?ref=outlook-calendar
DESCRIPTION: Formulas: Month 1: Principal paid = Monthly payment - (Loan amount x Rate ÷ 12)
Month 2: New loan amount = (Previous month principal - Principal paid) Principal paid = Monthly payment - (New loan amount x Rate ÷12)
Example: A borrower obtains a 30-year $100,000 amortized loan @ 7% with a $665.31 monthly payment. What is the principal paid in the second month? Month 1: Principal paid = $665.31 - ($100,000 x 7% ÷ 12) = $665.31 - (583.33 interest paid) = $81.98
Month 2: New loan amount = $100,000 previous month beginning loan amount - $81.98 principal paid = $99,918.02 Principal paid = $665.31 - ($99,918.02 x 7% ÷ 12) = $665.31 - (582.86 interest paid) = $82.45

https://www.learndesk.us/class/6271362765160448/lesson/6d399c8ce19df1aec16132560e40e5e8?ref=outlook-calendar
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SEQUENCE:3
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