Delta-K,  Feature Articles,  Volume 29, Issue 1

Canadian Mortgage Payments

Journal of the Mathematics Council of the Alberta Teachers’ Association

Volume 29 Issue 1, March 1991

19 – 23

Canadian Mortgage Payments

Dennis Connolly

This paper shows how monthly mortgage payments are calculated, with special reference to Canadian mortgages. From this a “loan progress formula” is developed. I also explain the curious “monthly interest factor” that appears at the back of Canadian Mortgage Tables.