Borrower: Lender:[Address, City, ST ZIP] [Address, City, ST ZIP]Phone: [Phone] Phone: [Phone]
Mortgage InformationLoan Amount 150,000.00 Balance at Year … 5
Annual Interest Rate 5.50% Date 12/12/2019Term Length (in Years) 30 Interest Paid 38,044.20
First Payment Date 1/1/2015 Principal Paid 23,015.00 Compound Period Monthly Outstanding Balance 126,985.00
Payment Frequency Acc Bi-Weekly [42]
Acc Bi-Weekly Payment 425.84 SummaryYears Until Paid Off 20.69
Home Value or Price 150,000.00 Number of Payments 538Yearly Property Taxes 2,700.00 Last Payment Date 8/2/2035Yearly H.O. Insurance 600.00 Total Payments 250,430.00
Monthly PMI 80.00 Total Interest 100,430.00 PITI Payment 589.69
Fixed-Rate or ARMExtra Payments Variable or Fixed Rate Fixed Rate
Start at Payment No 1 Years Rate Remains Fixed 3Extra Payment $ - Interest Rate Cap 12.00%
Payment Interval 1 Interest Rate Minimum 4.00%Extra Annual Payment $ 1,000.00 Periods Between Adjustments 12
Loan Amount: This is the amount that you have borrowed, not the sale price of the home. If you enter the current balance of your mortgage, make sure you adjust the Term Length to be the amount of years (or months/12) you have left on your mortgage.
I8
Balance Due at Year ... Useful if you are selling your house after a number of years, or just want to know what the balance due is after a certain number of years.
D9
Annual Interest Rate: This is the rate quoted by the lender. US mortgages are usually quoted based on a monthly compound period. Canadian mortgages are usually quoted based on a semi-annual compound period. Note that this value is NOT the same as "APR".
D10
Term (Amortization Period) The total number of years it will take to pay off the mortgage. Typical values: 30, 25, 20, 15 OR, enter the number of years you have LEFT on your loan. You can enter 10 years + 3 months by entering "=10+3/12"
D11
First Payment Date Assumes that the first payment date is at the end of the first period.
D12
Compound Period: The number of times per year that the quoted annual interest rate is compounded. Monthly: 12 times per year (for US Mortgages) Semi-Annually: 2 times per year (for Canadian Mortgages) NOTE: This calculator does not work for all types of mortgages and loans. The compound period is limited to monthly and semi-annually so that the user does not mistakenly choose a combination of compound period and payment frequency that would result in negative amortization. For example, a so-called "simple interest mortgage" uses a daily compounding period, BUT the interest is accrued in a separate account to avoid negative amortization and that is not how this spreadsheet is set up (you would need to use our "Simple Interest Loan" calculator, instead).
D13
Payment Frequency: This is used to determine the number of payments per year. Monthly: 12 times per year Semi-Monthly: 24 times per year (2 times per month) Bi-Weekly: 26 times per year (once every two weeks) Weekly: 52 times per year (once a week) Acc (Accelerated) Bi-Weekly: 26 times per year, including a predefined extra payment. An Accelerated Bi-Weekly payment is 1/2 the normal Monthly payment. Acc (Accelerated) Weekly: 52 times per year, including a predefined extra payment. An Accelerated Weekly payment is 1/4 the normal Monthly payment. Accelerated Bi-Weekly / Weekly: Typical accelerated bi-weekly payment plans are basically just a way of making extra payments convenient. The effect is that over the course of a year, your total extra payments end up equaling one normal monthly payment.
D14
Payment: This is the regular principal+interest payment due each pay period. For variable rate mortgages, it is the payment for the initial fixed-rate portion of the ARM. This does not include extra payments, unless the "Acc Bi-Weekly" or "Acc Weekly" option is chosen for the Payment Frequency. In that case, see the comments in the Payment Frequency and Extra Payment fields.
I15
Years Until Paid Off: If you elect to make extra payments, you may be able to pay off your loan early. Important: For variable rate mortgages, the monthly payment is adjusted whenever the rate changes! So, even if you make extra payments, you may not end up paying your loan off early.
D16
Home Value The home value is used to estimate the property taxes and home owner's insurance.
D17
Estimated Property Tax: (Real estate taxes) Annual property taxes are often based on a percentage of the property value. The average is around 1.8%, but you should call your Tax Collector's office in the city where you plan to buy the home for more information.
D18
Estimated Yearly Homeowners (Property) Insurance: This type of insurance is meant to cover the dwelling, personal property, personal liability, etc. (depending on your specific policy). The annual cost of homeowner's insurance is often estimated as a percentage of the property value. The default is 0.4%, but you can change the formula if you need to.
I18
Total Payments: The total amount paid over the course of the loan, including both interest and principal.
D19
Private Mortgage Insurance (PMI) Many lenders require PMI when down payments are less than 20 percent of the purchase price, or in other words a Loan-to-Value ratio of more than 80%. PMI will largely depend on the Loan-to-Value ratio, the type of mortgage, and the size of the loan, but can also include other factors. Typical values may range from $40 to $175. Check with your lending institution for the actual monthly PMI.
I19
Total Interest: The total amount of interest paid over the course of the loan.
D20
Estimated PITI Payment: This is the estimated mortgage payment that includes Principal (P), Interest (I), Taxes (T), and Insurance (I). It doesn't include extra payments unless you've chosen one of the accelerated payment frequency options.
D23
Use this field to indicate when you want the extra payments to begin. The extra payments will start on or after the payment number you specify, depending on the chosen payment interval and the month you choose for an extra annual payment. This is useful if you are analyzing your current mortgage, and have already been making normal payments for a number of years.
I23
In a 5-year ARM (Ajustable Rate Mortgage), the initial interest rate remains fixed for the first 5 years. After that, the rate is subject to adjustments, depending upon market conditions. ARM loans are often used when planning to sell the house after a number of years. 3, 5, 7, and 10-year ARMs are the most common.
D24
Extra Payment: To make regularly scheduled prepayments on the principal, enter the value in this field, and the payment interval in the next field. Accelerated Bi-Weekly Payments: Typical bi-weekly payment plans are basically just ways of making extra payments convenient. The amount paid is usually one half of the normal monthly payment. If you choose the "Acc Bi-Weekly" option from the Payment Frequency field, then this calculation is done for you. You can also estimate the effect of accelerated bi-weekly payments by setting the Payment Frequency to Monthly, choosing an Extra Payment Interval period of 1, and making the Extra Payment amount equal to the Payment/12.
I24
Interest Rate Cap: A variable rate mortgage usually has a "cap" which specifies the maximum rate that you can be charged over the life of the plan.
D25
Payment Interval: Specifies that the Extra Payment amount will be made every N payments. For example, if the Payment Frequency is Monthly, enter 1 to make the extra payment every month, or 2 to make the extra payment every 2 months, or 12 to make the extra payment at the end of each year, etc.
I25
Interest Rate Minimum: In reality, the interest rate will probably not go below 4%, and certainly won't be negative, so if the market is such that the interest rates are decreasing, you can enter a negative estimated adjustment, and the interest rate minimum will place a lower limit on the rate so that the interest rate cannot go below the minimum.
D26
Extra Annual Payment: In addition to the Extra Payment above, you can specify an Extra Annual Payment, and choose the month that you want to make the extra annual payments. For example, you might want to plan to always use your tax return to make an extra annual payment.
I26
Periods Between Adjustments: The number of periods between each interest rate adjustment. The common adjustment period is 12 months, meaning that the rate will be adjusted once a year.
D27
Payment # for the Extra Annual Payment: This lets you specify when the extra annual payment will be applied each year. Leave the field blank (or zero) to make the extra annual payment at the end of each year (meaning a full year of payments - not the calendar year). If you are paying monthly, you can enter a number between 1-12. If you are paying biweekly, you can enter a number between 1-26. The payment # is the number listed in the Payment Schedule, so if your loan starts on 5/1/2010, Payment #2 would be made on 6/1/2010.
I27
Estimated Adjustment: The amount that you think the interest rate will rise (positive) or fall (negative) each time it is adjusted. This amount is added to the interest rate at the beginning of each adjustment period.
D28
Total Extra Payments: This is sum of the Extra Payments and the Additional Payments columns.
I28
Highest Monthly Payment: This field tells you what the highest monthly payment not counting extra payments is over the course of the loan, based on the inputs you provided about how you expect the rate to change over time.
D29
Interest Savings The reduced interest associated with making extra payments or "prepayments". When you make extra payments on the principal, then you pay less interest in the long run. This calculation does NOT include any tax deductions.
D35
Total Payments: If you don't make any extra payments, this will be the total amount, including interest, paid over the life of the loan (the full amortization period).
D36
Total Interest: If you don't make any extra payments, this will be the total amount of interest paid over the life of the loan (the full amortization period). This amount is used to calculate the "Interest Savings".
K42
Tax Bracket (Marginal Tax Rate): In some cases, the interest paid on a mortgage is tax deductible. If it is NOT, enter a 0% in the tax bracket to represent no tax returned. The marginal tax rate is basically the rate you pay on the "last dollar" you earn. Because tax rates a graduated, this is only an estimate.
K43
Effective Annual Interest Rate: Only applies to fixed-rate mortgages (or the starting interest rate on an adjustable rate mortgage). If you can deduct the interest paid on your home mortgage from your taxes, then one way to look at this benefit is by calculating the "effective annual interest rate". Note that you still must pay the normal amount of interest, but when making comparisons to other loans and investments, you should consider the tax deduction if it applies.
K44
Total Tax Returned: The total amount of tax returned due to the home mortgage interest deduction. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit.
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
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No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 11 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 12 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 13 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 14 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 15 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 16 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 17 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 18 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
http://www.vertex42.com/Calculators/home-mortgage-calculator.html Page 19 of 25
No. Year Balance Tax ReturnedPayment
DateInterest
RateInterest
DuePayment
DueExtra
PaymentsAdditional Payment
PrincipalPaid
Cmltv Tax Returned
[42]
A47
Payment Number
B47
Payment Date: This calculator assumes that the payments are made at the END of each period.
D47
Current Annual Interest Rate: For a variable or adjustable-rate mortgages (ARM), this column indicates what the current annual interest rate is for each payment period. You can manually enter the Interest Rate if you want to run a rate simulation that the options above cannot handle.
E47
Interest Due: This is the interest accrued during the payment period. If your mortgage accrues interest daily, the interest due will probably be different, and you ought to be using a different spreadsheet (see the Simple Interest Mortgage spreadsheet on Vertex42.com)
F47
Payment: The required payment that includes both interest and principal.
G47
Extra Payments (Prepayments) (Assumes no penalties for making prepayments on the principal) The amounts in the "Extra Payments" column are based on the inputs chosen in the "Extra Payments" section above. To manually enter extra payments, use the Additional Payment column. The complication of the formula in this column comes from having to prevent overpaying on the last few payments. For example, if you normally make a sizable annual extra payment, the formula must make sure that your last annual payment isn't more than the balance due. If it is, then the extra payment is adjusted to bring the balance exactly to zero.
H47
Additional Principal Payment (Assumes no penalties for making prepayments on the principal) This column gives you complete flexibility in making additional payments. Use the Extra Payments to schedule regular extra payments. The Additional Payment column is for the occasional lump sum or irregularly scheduled prepayments. You can enter a negative value here if you want to cancel a regularly scheduled extra payment. If you enter a negative value and you end up not paying the interest due, then your balance will increase, resulting in negative amortization (paying interest on interest).
K47
Tax Returned: This column only applies if you can deduct the interest paid on your home mortgage from your taxes. This column calculates the amount of tax that will be returned based on your tax bracket and the amount of interest paid this month. Note that the amount indicated in the Tax Returned column is NOT actually returned that month. You must wait for your yearly tax return to see the benefit. The tax deduction decreases as you pay down your loan and pay less interest.
L47
Cumulative Tax Returned A running total of the tax returned.
This spreadsheet lets you analyze a fixed or variable rate home mortgage. You can set up periodic extra payments, or add additional payments manually within the Payment Schedule. Use the spreadsheet to compare different term lengths, rates, loan amounts, and the savings from making extra payments. It also calculates the outstanding balance at the end of a specified number of years and the tax returned if the interest paid is tax deductible.
Caution: This spreadsheet should not be construed as financial advice. The results may not be exact, and may not apply to your specific situation. Please consult a qualified professional regarding financial decisions.
Try using Excel's built-in Goal Seek utility (Data > What-If Analysis > Goal Seek) to solve for a Loan Amount that results in a specific Monthly Payment.
Note: The payment and the interest are rounded to the nearest cent. The last payment is adjusted to bring the balance to zero.
The link at the top of this worksheet will take you to the web page on vertex42.com that talks about this template.
