Can someone help me with a calculation/amortization

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Sep 21, 2001
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suppose I paid $200 per month for the last 26 years and it was running at 5% - how much would the payee owe me to pay back everything with the interest - thanks
 

I like money
Handicapper
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Dec 13, 2006
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Loan Amount35,000
Annual Interest Rate<input value="5.00%" name="p1E8" id="p1E8" type="text" tabindex="2" class="ee130" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: Tahoma, sans-serif; font-size: 11pt; text-align: right; vertical-align: bottom; width: 136px;">
Term of Loan in Years26
First Payment Date7/1/1990
Frequency of Payment<select name="p1E11" id="p1E11" size="1" tabindex="5" class="ee130" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; color: windowtext; font-family: Tahoma, sans-serif; font-size: 11pt; text-align: right; vertical-align: bottom; width: 136px;"> <option value="Annually">Annually</option> <option value="Semi-Annually">Semi-Annually</option> <option value="Quarterly">Quarterly</option> <option value="Bi-Monthly">Bi-Monthly</option> <option value="Monthly" selected="selected">Monthly</option> <option value="Bi-Weekly">Bi-Weekly</option> </select>
Rate (per period)0.417%
Payment (per period)200.67
Number of Payments312
Total Payments$62,609.12
Total Interest$27,609.12

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Joined
Sep 21, 2004
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Am I missing something, why would you not just need back the money you paid out?

I.e. 26 * 12 * $200 = $62,400
 

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Jul 14, 2007
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Yeah, 62,400 is the answer if it was a loan at 5% and the payment was 200 a month

The way I answered it he loaned out $200 at 5% over 26yrs and it compounded and now it is due.
 

Conservatives, Patriots & Huskies return to glory
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Sep 9, 2005
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I have some of the best and most versatile amortization software at my office Seymour, I'll post calculation in the morning
 

Conservatives, Patriots & Huskies return to glory
Handicapper
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Invest $ 200 per month for 26 years
Earn 5% return on your money

FMV in 26 years = $ 128,182.86
 

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