Hi, folks. It has been quite a while since I’ve made any substantial additions to the site. I just added a new document with some new formulas for directly calculating the interest portion of any payment, and for calculating the total interest paid so far. If you’re into math, you might find the Interest Recurrence document mildly useful.

## 2 Replies to “Even more math…”

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Question! I have a morgagee who has paid a few extra dollars on the principal on 20 payments. My question is – Should I take that amount off the front end or back end of the loan?

Hi, Margaret. How interest is agreed to be paid on a loan would usually be decided by contract in advance. For many typical bank mortgages, the interest owed is paid first, and the remainder of the payment is applied toward reducing the principal balance. Since I’m not in the finance biz, I don’t really know what you mean by “front end” or “back end” of the loan in this context. If you don’t have a formal contract that spells out what to do in this situation, perhaps the spreadsheet can help you figure out what’s fair to you and your mortgagee.