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Tuesday, February 22, 2011

Features of Windows 7

Mortgage Calculations

SUMMARY: Calculate the monthly payment, down payment, purchase price, or years of a mortgage with Windows 7.

Even in uncertain economic times, some people are still able to purchase condos and houses. These usually require mortgages, and calculating the dollar amounts is a necessity. Instead of relying on web sites or third-party software, let Windows 7 's calculator handle some of the needed tasks.

1. Open the Calculator - click the Start button, select "All Programs", "Accessories", then "Calculator".

2. The Windows Calculator appears. Open the "Mortage Worksheets" pane by selecting "View" - "Worksheets" - "Mortgage".

3. The Mortgage Worksheets pane appears to the right. Underneath "Select the value you want to calculate", click the pull-down and choose from the following:

* Down payment
* Monthly payment
* Purchase price
* Term (years)

Underneath, enter the necessary information that will depend on the type of calculation desired. Then click the "Calculate" button.

For example (see the below screenshot), to calculate the monthly payment for a $250,000 mortgage with a $75,000 down payment and a 30-year term at 5% interest, the calculator's result would be $939.4378402712432 (rounded to $939.44).

You can highlight the result with your mouse, then select "Edit" - "Copy" (or press Ctrl + C) to copy the resulting value. It can then be pasted into the main calculator pane, Notepad, a word processing document, etc.

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