Mortgage & Loan Payment Calculator
Mortgage calculators are automated tools that enable users to determine the financial implications of changes in one or more variables in a mortgage financing arrangement. Mortgage calculators are used by consumers to determine monthly repayments, and by mortgage providers to determine the financial suitability of a home loan applicant.[1]
The major variables in a mortgage calculation include loan principal, balance, periodic compound interest rate, number of payments per year, total number of payments and the regular payment amount. More complex calculators can take into account other costs associated with a mortgage, such as local and state taxes, and insurance.[2]
Mortgage calculation capabilities can be found on financial handheld calculators such as the HP-12C or Texas Instruments TI BA II Plus. There are also multiple free online free mortgage calculators, and software programs offering financial and mortgage calculations.
An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process.
The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.
An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.
Valley Park
Valley Park is a city in St. Louis County, Missouri, United States. The population was 6,942 at the 2010 census.[6]
Descendants of the Mississippian culture still had a settlement along the Meramec River in the mid-18th century, until the Native Americans were pushed out by colonial French and German immigrant farmers in the 1760s.{{citation needed|date=May 2017}] The developing village over time was known as Nasby, Sulphur Springs, Quinette, Meramec, and finally Valley Park by around 1890. It had one of the first post offices established in St. Louis County. It developed as a railroad hub for the Missouri Pacific and St. Louis-San Francisco rail lines.
In 1894, the town became the site of the first lynching in St. Louis County. A black man named John Buckner was lynched when accused of raping a local black woman and a white teenager. He was taken from the authorities by several local residents and farmers and hanged from the main bridge in town overlooking the Meramec River. The lynchers were never prosecuted.