This is from certain bank based in ON
Original Balance:$123,601.31
Outstanding Principal:$115,957.79
Original Amortization:180
Actual Months Remaining:161
Interest Details
Interest Rate:2.70%
Accrued Interest:$42.89
Maturity Date:26 Mar 2015
Mortgage Term:60 months
Mortgage Type:Variable
Payment Details
Payment Frequency:Bi-weekly-24
Payment Due Date:22 Apr 2011
Regular Payment:$396.28
(includes principal & interest)
____________
Total Regular Payment:$ 396.28
=================
Here is my calculation based on their own figures:
Biweekly Interest Rate: 0.001118099
Biweekly Payments=$123,601.31x[0.001118099/(1-(1.001118099)^-360]=$417.25
Please comment about discrepancy and their variable rates, is it good deal?
Is it not matching due to variable rate?
How are they calculating Accrued Interest:$42.89? I have no idea. Please help.
Original Balance:$123,601.31
Outstanding Principal:$115,957.79
Original Amortization:180
Actual Months Remaining:161
Interest Details
Interest Rate:2.70%
Accrued Interest:$42.89
Maturity Date:26 Mar 2015
Mortgage Term:60 months
Mortgage Type:Variable
Payment Details
Payment Frequency:Bi-weekly-24
Payment Due Date:22 Apr 2011
Regular Payment:$396.28
(includes principal & interest)
____________
Total Regular Payment:$ 396.28
=================
Here is my calculation based on their own figures:
Biweekly Interest Rate: 0.001118099
Biweekly Payments=$123,601.31x[0.001118099/(1-(1.001118099)^-360]=$417.25
Please comment about discrepancy and their variable rates, is it good deal?
Is it not matching due to variable rate?
How are they calculating Accrued Interest:$42.89? I have no idea. Please help.
