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Annual rate variable interest mortgage
Financial - Examples for the financial calculators
Friday, 02 February 2007 14:42

With this calculator you can compute the effective annual interest rate on a loan or mortgage with a variable interest rate. The inputs are the initial and final balance, and a list of payments with their dates. This input date should be available from the account/history statements of your bank.

So first enter the initial balance, then the final balance and then add two rows with the plus (+) button and enter the monthly paid amounts as deposits as in the table below:

DateAmountRemark
2008-01-01-300Initial balance
2008-01-262.4Deposit
2008-02-262.2Deposit
2008-03-272.4Deposit
2008-04-252.2Deposit
2008-05-282.15Deposit
2008-06-272.45Deposit
2008-07-272.25Deposit
2008-08-272.32Deposit
2008-09-282.39Deposit
2008-10-282.4Deposit
2008-11-282.42Deposit
2008-12-302.4Deposit
2009-01-01-291Final balance

So after clicking on "Compute" the effective annual interest rate appears, which is 6.54%. Note that this calculation takes the date of each wire into account.

The input in the table below can also be entered via the tab Import from HTML by cutting in the field below, pasting it to the field in the tab Import from HTML and then pressing Load into Calculator.