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!
Compound Interest. You may wish to read Introduction to Interest first. With Compound Interest, you work out the interest for the first period, add it to the total, and then calculate the interest for the next period, and so on ..., like this: Here are the calculations for a 5 Year Loan at 10%:s you can see, it is simple to calculate if you take one step at a time. 1  Calculate the Interest (= Loan at Start Ã Interest Rate). 2  Add the Interest to the Loan at Start to get the Loan at End of the year. 3  The Loan at End of the year is the Loan at Start of the next year.