Monthly Archives: February 2007

Calculating a Monthly Payment

Ever wonder how to calculate a monthly payment without using a spreadsheet software such as MS Excel?

Well below is the formula:

  • P = principal, the initial amount of the loan
  • I = the annual interest rate (from 1 to 100 percent)
  • L = length, the length (in years) of the loan, or at least the length over which the loan is amortized.

The following assumes a typical conventional loan where the interest is compounded monthly. First I will define two more variables to make the calculations easier:

  • J = monthly interest in decimal form = I / (12 x 100)
  • N = number of months over which loan is amortized = L x 12

Okay now for the big monthly payment (M) formula, it is:

M = P x ------------------------
1 - ( 1 + J ) ^ -N

where 1 is the number one (it does not appear too clearly on some browsers)

Pretty complicated huh?

Well I whipped up a little webpage script to do it all for you if you enter in your 3 main variables (Amount, Years financed, and Interest Rate). I wanted it to use for my blackberry, so it is very mobile-focused. (Read as nothing fancy, but it is fast loading)

Monthly Payment Calculator

Thanks goes to Karl for the above formula.

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Living Dreams

Last night I had one of the weirdest dreams ever. I dreamed that I had just awoken from a dream about the greatest murder mystery plot ever conceived. In my dream a was making notes of my dream so that I could write the actual book based on it.

I woke up this morning with all details so fresh in my head that I figured I need not write them down. I had convinced myself that this was a rather cool plot, but now? Nothing don’t remember hardly anything. I guess I was trying to tell myself something.

Maybe it had something to do with he fact that we watched Saw III last night…

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Did you know?

That the coldest and warmest day on record in North Dakota both happened in the same year?

1936 to be exact.

coldest: -60 degrees F in Parshall on February 15th
warmest: 121 degrees F in Steele on July 6th

Now you know!

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No Frogs for You

It’s a rare thing to witness the extinction of an entire class of
animal. We weren’t around to see the dinosaurs disappear, and the dodo
was just one species of bird — it’s not like all birds slowly
disappeared. But according to many conservation scientists, that’s
exactly what amphibians are facing: Frogs and others in the amphibia
class are on their way out unless the conservation community takes
immediate action.

Wow, it’s hard to imagine that my kids or grandkids may never know what a frog is…


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Computer Statistic Question

Anyone know or seen where I could find the average number of computers owned by US citizens over their lifetime?

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Trump on Business

When buying a business, you can and should expect to make a return of
at least 25 to 33 percent on your cash investment within the first
year. Plus, you will have the opportunity to produce a steady personal
cash flow, and you’ll be building value that will pay you handsomely
when the day arrives to sell the business.

That’s odd, I have never seen a figure like that before. Most times in the case of a new business, they say you will not make much profit the first couple of years…


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Interesting article on Google co-founder Sergey Brin

It takes a bit of searching to find Sergey Brin’s office at the Googleplex.
Tucked away in a corner of Building #43 on this sprawling campus near
the southern tip of San Francisco Bay, past rows of colorfully
decorated cubicles and dorm-like meeting spaces, Office 211 has a
nondescript exterior and sits far from the public eye. Although it
takes several twists and turns to get there, his office is not
protected—as you would expect for the cofounder of a $150-billion
company—by a Russian nesting doll’s worth of doors and gatekeepers.

Full Link

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