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Formula – Sinking Fund Payment
By Contributor on November 30, 2018
SFP = 1/[[(1+r)n-1]/r]
You need to know:
What lenders hope you never learn about mortgages
Where SFP = Sinking fund payment
n = number of periods
A sinking fund refers to the series of payments that has to be made in order to reach a specified amount of money.
This equation for calculation works out the mortgage payment amounts required in the future.
For example, if you need to attain an accumulation of $10,000 in 5 years, how much do you need to save each month, taking into account compounded interest?
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