MATH 3618- More Annuities & Loan Amortization
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Last updated 8:55 PM on 10/17/25
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6 Terms
1
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Define:
OBt, Kt , Pt, it
OBt, = Outstanding Balance
Kt = Payment size @ time t
Pt,= Principal
it = Interest
2
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L (initial loan payment) = ___
L (initial loan payment) = OB0
3
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Kt = _____ + _____
Kt = Pt + it
4
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it = _____ ⋅ _____
it = i⋅ OBt-1
5
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OBt = _____ - _____
OBt = OBt-1 - Pt
6
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OBt = _____ ⋅ _____ - _____
OBt = OBt-1 ⋅ (1+i) - Kt
Note 
Flashcards (78)