Canadian mortgage · semiannual compounding
Canadian mortgage · semiannual compounding: use mortgage principal, nominal annual rate compounded semiannually, amortization period. Review the formula, worked example and calculation steps.
Inputs
Use the units shownEnter your values and select Calculate.
Formula & explanation
Variables & units
- Mortgage principal
- currency · minimum 0.01, maximum 1000000000000
- Nominal annual rate compounded semiannually
- % · minimum 0, maximum 100
- Amortization period
- years · minimum 1, maximum 50
Worked example
At 0%, a 120,000 mortgage over 10 years requires 1,000 monthly.
Assumptions
Fixed nominal annual rate compounded semiannually with monthly payments. The chosen amortization is not a guaranteed rate term. Excludes fees, insurance, taxes and prepayment rules; other Canadian products may use different conventions.
Formula version 1.0.0. JavaScript floating-point arithmetic applies. Results display up to 6 decimal places; stored values retain available precision. Use the units shown.
Practice with an example
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