If you're an engineer or scientist, there are lots of entertaining things you can learn about mortgages by playing with the math. If you've forgotten most of your last algebra class, most of this can be done with a spreadsheet and multiplication and addition.
TBD.... Hmm, make this a separate page....
Rule of 72 Approximation based on a generalizing from a single point (10%, 8% is better): http://invest-faq.com/articles/analy-rule-72.html
Derivation based on first terms from Taylor series: http://ocw.mit.edu/NR/rdonlyres/Electrical-Engineering-and-Computer-Science/6-042JSpring-2005/5B495CB6-5B6D-457E-99BF-E9F246C186CD/0/l10_sums1.pdf
Source for balance remaining on mortgage after # payments http://www.mtgprofessor.com/formulas.htm
A site with a a similar layout to mine but with a heavier emphasis on math is at http://www.intmath.com/Money-Math/Money-Maths.php
Contact Ric Werme or return to his home page.
Last updated 2007 August 3.