This is how a lease option should work: After securing the go-ahead from a mortgage broker and before moving in, your potential buyer will give you a healthy, nonrefundable deposit to go toward the down payment of the house -- typically, 3 to 5 percent of the purchase price.
The Simple Interest Calculation Formula is: Loan Amount (in dollars and cents) x Interest Rate x Time (in days) = Total Interest. You must select the values to enter the Starting Month, Day and Year, and the Ending Month, Day and Year for the time of loan. Enter the amount of the loan and the simple interest rate. Click on Calculate. The calculation is done in days, EXACT calendar days!
1 Type in the principal owed on your loan or the amount of your investment in the cell for Principal, B1. 2  Divide your annual interest rate by 12 if you want to calculate interest on a monthly basis; divide by 4 if quarterly interest is to be calculated. 3  Place this in cell B2.