December 2000

BRIEFS:

Interest Rate Factor Chart

Use this chart to determine monthly principal and interest payments on Fifteen(15) and Thirty(30)year mortgage loans.

First, Determine the Interest Rate; then, Determine the Length of the Loan (either a 15 or 30 year term); next, Use the Grid to Determine the Factor, and finally, Multiple the Factor By the Loan Amount expressed in $ 1,000 increments.

(i.e., for a $ 100,000 Mortgage at 7_% for 30 years, use the Factor Chart which indicates 6.99;then multiply this figure by 100 (100 x 1,000 increments= 100,000) which results in $ 699 per month without taxes, insurance, etc).

 

    Factors per $ 1000        
Interest Rate 15 Years 30 Years   Interest Rate 15 Years 30 Years
6% 8.44 6   9% 10.14 8.05
6 1/8 8.51 6.08   9 1/8 10.22 8.14
6 _ 8.57 6.16   9 _ 10.29 8.23
6 3/8 8.64 6.24   9 3/8 10.37 8.32
6 _ 8.71 6.32   9 _ 10.44 8.41
6 5/8 8.78 6.4   9 5/8 10.52 8.5
6 _ 8.85 6.49   9 _ 10.59 8.59
6 7/8 8.92 6.57   9 7/8 10.67 8.68
7% 8.99 6.65   10% 10.75 8.78
7 1/8 9.06 6.74   10 1/8 10.82 8.87
7 _ 9.13 6.82   10 _ 10.9 8.96
7 3/8 9.2 6.91   10 3/8 10.98 9.05
7 _ 9.27 6.99   10 _ 11.05 9.15
7 5/8 9.34 7.08   10 5/8 11.13 9.24
7 _ 9.41 7.16   10 _ 11.21 9.33
7 7/8 9.48 7.25   10 7/8 11.29 9.43
8% 9.56 7.34   11% 11.37 9.53
8 1/8 9.63 7.43   11 1/8 11.45 9.62
8 _ 9.7 7.51   11 _ 11.53 9.72
8 3/8 9.77 7.6   11 3/8 11.61 9.81
8 _ 9.85 7.69   11 _ 11.69 9.91
8 5/8 9.92 7.78   11 5/8 11.77 10
8 _ 9.99 7.87   11 _ 11.85 10.1
8 7/8 10.07 7.96   11 7/8 11.93 10.2

 

Please contact our office or your advisor to discuss the specific merits and applications of any material presented herein. The information is intended to inform and alert the reader of tax and accounting items of interest, but since it is presented in abbreviated form and not all-inclusive, it should be implemented only upon in-depth consultation with your appropriable advisors. Also contact referenced venders for additional specific information and application.

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