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 amount of interest that accrues on your loan is determined by a simple daily interest calculation: Your current principal balance Ã The number of days since your last payment Ã Interest rate factor = interest rate Ã· 365.25 (number of days in a year) = Your daily interest rate.
Loan Interest Calculator. This Excel spreadsheet lets you enter the APR, the loan period in months and the loan amount. It will then calculate the monthly loan repayments. For each month the spreadsheet will calculate the amount of interest and capital payable and give you a closing balance of the outstanding capital.t will then calculate the monthly loan repayments. For each month the spreadsheet will calculate the amount of interest and capital payable and give you a closing balance of the outstanding capital.