You may not use it often, but this book will come in very handy when planning to borrow money.I've been an investment professional since 1988, and this is the most borrowed book on my shelf.I also owned the previousedition, and this version has been improved with the inclusion of ratesdown to 2% and the expansion of loan amounts to $300,000 in the primarytable.
The book is conveniently organized in four tables, ordered frommost-commonly to least-commonly used (as it happens, largest to smallest). Table 1 (monthly amortization) is where everyone spends the most time. Just turn to the interest rate page, then read across for "loanamount" and down for "years in term," and you've got yourmonthly payment to the penny.For non-round numbered loan amounts, you canavoid having to interpolate by grabbing a calculator and turning to Table 2(required payments for monthly, quarterly, etc.), where you can look up themultiplier (per $1000) corresponding to the rate and term of a given loan(yep, that's how your mortgage lender does the math).Less frequently usedare loan progress charts and proration data, Tables 3 and 4,respectively.
This book is straightforward, convenient, and travels well. My favorite of its kind.
Loan Amounts of $ 50 to $ 300,000. Interest Rates of 2% to 25.75%. Terms up to 40 years.