The Level Payment Amortization Method For Loan Repayment (Financial Mathematics Lesson 20) ➡️ Download My Free Worksheet Set: https://www.jkmathematics.com/financial-mathematics-worksheet-set 🖥️ Join My Membership Site: https://www.jkmathematics.com/plus In this lesson we learn how to use the amortization method for repaying a loan with a series of level payments. We go over the notation and terminology for amortization and loan repayment, and how to calculate the outstanding balance, interest accumulated, and the principal paid at a particular moment in time for a loan that is being repaid. We use example problems to demonstrate these calculations, and how they apply to a real world scenario. This course is designed to help students understand the concepts of mathematics of investment and credit, as well as provide a starting point in preparation for the Actuarial Exam FM (Financial Mathematics). Financial Mathematics requires a proficient understanding of Calculus concepts such as derivative and integration techniques. This implies that a solid understanding in various algebra skills, including manipulating equations, basic factoring methods, solving logarithmic equations, and more, are also required to fully comprehend and learn the concepts of the Financial Mathematics course. Video Chapters: 0:00 What is Amortization? 1:25 Components of an Amortized Loan 3:09 Demonstrating The Amortization Method 10:23 General Formulas 12:06 Special Level Payment Formulas 13:26 Calculating Outstanding Balance at Time t 15:01 Prospective Method 17:04 Retrospective Method 19:14 More Formulas 📝 Examples Video: https://youtu.be/qJVq37Ukbu4 ⏩ Next Lesson: https://youtu.be/oJr4kCC2K3Q 📺 Course Playlist: https://youtube.com/playlist?list=PLHdRLeAbIZE6jDdorvN8MOZCqvSci2c6F 🌐 Visit My Website: https://www.jkmathematics.com ⚡️Math Products I Recommend⚡️ Graphing Calculator: https://amzn.to/3XuUcB9 Non-Graphing Calculator: https://amzn.to/46hHJ7E Financial Calculator: https://amzn.to/3CRe9s4 Graphing Paper: https://amzn.to/46mAfAr College Rule Paper: https://amzn.to/3NOJaTN My Favorite Pencil: https://amzn.to/3NOFMIB My Favorite Erasers: https://amzn.to/3PumUQB Calculus Workbook: https://amzn.to/3r8SnNP ⚡️Textbooks I Use⚡️ Calculus 1 & 2: https://amzn.to/3PzfI5F Calculus 3: https://amzn.to/46rSy76 Financial Mathematics: https://amzn.to/3ppIVW0 ⚡️My Recording Equipment⚡️ iPad Air: https://amzn.to/3phEug1 Apple Pencil (Gen 2): https://amzn.to/3Nl45MM Tablet Desk Stand: https://amzn.to/4420rPh External Hardrive: https://amzn.to/44pkEyh (Commissions earned on qualifying purchases) Find me on social media: Facebook: https://www.facebook.com/jkmathematics Twitter: https://twitter.com/jk_mathematics Instagram: @jk_mathematics Found this video to be helpful? Consider giving this video a like and subscribing to the channel! Thanks for watching! Any questions? Feedback? Leave a comment! -Josh from JK Math #math #finance #examfm Disclaimer: Please note that some of the links associated with the videos on my channel may generate affiliate commissions on my behalf. As an amazon associate, I earn from qualifying purchases that you may make through such affiliate links.