loan

Home loan calculation formula (algorithm)?

How a bank calculate home loan's payments? For example, $1,000,000 at 5.00% over a 25 year period. Monthly payment: $5,845.90 Current Payment To Date Payment -------------------------- ---------------------------------------------- Number Interest Principal Inter...

Python: smarter way to calculate loan payments

How to calculate the monthly fee on a loan? Given is: a: an amount to loan. b: the loan period (number of months). c: the interest rate p.a. (interests is calculated and added every month, 1/12 of the interest is added. So if the interest is on 12%, 1% interest is added every month). d: the amount of money owed after the end of the pe...