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Let:
= Σ
SX
2
Then:
=
−
b
Y
where
Equations Used in Chapter 14
Canadian Mortgages
where:
N = total number of monthly payments
CI%YR = annual interest rate (as a percent)
PV = loan amount
PMT = monthly payment
FV = balloon payment
252 B: More About Calculations
Σ
X
=
i
X
n
−
2
X
X
(
)
i
= Σ
−
SXY
X
(
i
SXY
=
M
SX
B = b for LIN and LOG models, and
b
B = e
for EXP and PWR models,
M X
=
CORR
1
= −
PV
PMT
CI YR
%
=
+
r
1
200
Σ
=
Y
= Σ
−
SX
Y
2
(
i
−
X Y
Y
) (
)
i
2
SXY
×
SX
SY
2
2
−
N
−
+
r
(1
)
−
FV
r
1
6
−
1
Y
i
n
2
Y
)
−
+
N
r
(1
)
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