Chattel Mortgage Calculator Formula - Stock Calculators

Chattel Mortgage is a type of loan imposed, when a person (lender) sales the movable property to an other person (Purchaser). It is commonly used to calculate the repayment of the loan. Repayment value can be calculated by substituting the amount of balance, down payment, rate, term and time period in the formula.

Formula:

Repayment = (b - d) * ((i * ((1 + ((i / 100) / p))(l * p))) / (((1 + ((i / 100) / p))(l * p)) - 1))

Note :
Period (Weekly) = 52
Period (Fortnightly) = 26
Period (Monthly) = 12


Where,

b = Balance
d = Down Payment
r = Rate
p = Period
t = Term

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