Mortgage web calculator
Word mortgage comes from French and means "pay until death". Yes, that suits and despite it, many of us take it. We have many mortgage web calculators on Calculoid. Just search for "mortgage" here: http://app.calculoid.com/#/calculators.
I am going to describe here one particular calculator that allows users to calculate their monthly installments, which is the most crucial parameter of every mortgage. You need to know if you can pay it on regular basis or not.
This mortgage web calculator is practically very easy, it has just 3 fields to define:
http://app.calculoid.com/#/calculator/121
1) loan - how much you are going to loan
2) years to pay - how long you want to pay
3) interest rate - what is your mortgage interest rate.
All these 3 are implemented as the sliders. Afterward, there is 1 formula field - monthly installment, which is the result for users. Formula is based on compound interest and is implemented as follows.
This calculator is public, so you can just take it and embed it on your site. Enjoy Calculoid.
