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Most credit cards calculate interest by calculating the average daily balance. This method is an "amitorized" method that is used in mortgages and personal loans.

Bless you, thanks for this. I would not have passed my project without finding it.

Very helpful. Thank you very much.

Buddy you saved my life! Thank you!

This is much more helpful. Thanks Tom!

APR is not calculated using all closing costs, you should about be using the fees considered "pre-paid finance charges". This world be any junk fees i.e underwriting, processing, etc. Mortgage insurance is also a prepaid finance charge. Things like a credit report or appraisal or title insurance are not. This makes figuring mortgage apr difficult unless you know exactly what fees sighs be included, how much mortgage insurance will be paid over the life of the loan and so on. It's easier to just compare loans by looking at note rate and actual total fees. Apr can be easily manipulated.

thank you

I just ordered my first credit card today from @Darkphin on telegram I’m 21 yrs old, as you mentioned as long as you can buy what you can afford, there is no reason not to use one💯

Where can i get this template

I received a hacked transfer of $23,000 directly to my paypal account from expeditetools ,com

where is it when we add a purchase?

Thanks. I taught statistics in a Chinese University 15 years ago. I wish a video such as this had been available then.

Im going to try this out. Thank you!

Thank you! Very Clear Presentation!

Really really helpful and very clear explanation.Thanks. For Mathematics' knowledge NO AGE> God bless

Thank you! Needed this for uni

This needs better explaining tbh

Thank you so much for this

thanks for the wonderful video .

Great video! I am having a little difficulty in fitting a 7th order polynomial or higher in excel. Does it only fit up to 6th order polynomial ?

I have a question which is an extension of the topic discussed in this video. I understand how to estimate the 95% Confidence Interval and 95% Prediction Interval for linear regression. Could you please guide me to any discussions where these quantities are estimated for non-linear regression? Thank you.

Such an awesome video!!! Thank you so much for your help. Even I who don't have any experience with formulas and financial numbers understood this video. I contacted my creditors to make sure that the numbers added up and they asked me where did I find the video. They were interested in it as well! :) Now, I can have a better understanding of where I should be each month and if I can shorten the months and pay everything off even faster.

Hello Tom, Great video. R-squared is coefficient of determination, expected value is between 0 to 1 and not -1 to 1

This video was extremely helpful. It explained the basics of a polynomial regression very clearly, Thank you!

how to get the coefficients in a cell rather than in an equation within the chart?

How do you get all your values in the table to change when you manipulate the base data?

it is good until 6;13 paste function is unclear

Thanks for this!! it was really useful!

thanks alot man. what is the exact procedure for the same using Stata?

Thanks!!!

What the hell did you actually show??? You show how to compute interest and that's all.... NOTHING about how to set up Excel using the proper financial functions... idiot.

Thanks guy ! That's the solution i was looking for !

@Tom Brown

How do we regress with the function f(x)=a*b^x? Is there such option in Excel?

Briiliant example for me, a sincere thanks, I have now modified to include years column, additional payment column, plus annual summary with graphs that shows expected loan clearance month, something I have been attempting to create for years, and it balances to the bank online calculators. So thanks for giving me a great start, much appreciated.

thanks! this is precisely what i needed.

As someone looking in to buying a house, this made mortgages much clearer, thank you.

do you have a vidoe showing how you make this calculator so people can build there own spread sheet?

thanks man

Man, you are my hero. Thanks a heap

Thank you so much for this

I have a much longer function, but when I enter he function into cell B it shows an error

This was extremely helpful! Thank you! On top of the regression data I now know how the graphs work. One million thanks

This was extremely helpful for me! Thank you for explaining it so well!

I went slightly mad using the PMT function - you have to make sure the cell format for the interest rate is of type percentage.

Also works for excel2007 ... THANKS A LOT!

This is regressión of polynomial curves?, or we are just finding a parabolic tendency line... Is this Useful if i want to use Multi Factos like X,z,W, not only to determine Y

hey Tom, Thanks for this video, I have a quick question: How do I create a model which will enable the bank determine what treatment to offer its customer who are either in arrears on the mortgage on their family home or have asked the bank for help as the feel they are in danger of falling into arrears???

you are a legend

Thank goodness for people like you who are kind enough to enlighten the rest of us! Props!