calculate the compound interest if you out mortgage loan against a property of 1000000.00 over 20 year term at 5% interest compounded annual

Do you make payments at the end of each year or what?

yes and i am not good with figures

calculate the compound interest if you out mortgage loan against a property of 1000000.00 over 20 year term at 5% interest compounded annually

Well, $1000,000 mortgage over 20 years @5%,

First we will calculate the monthly payment. But before we do that we must convert the 5% annual compounding to monthly compounding. So, 5% comp.annually is the same as 4.8889%comp.monthly.

Then we calculate the monthly payment, which is=$6,538.36, which will be paid to the Bank every month for 20 years, or for 240 months.

Then we just multiply 240 X $6,538.36=$1,569,206.40-$1,000,000=$569,206.40 Total interest over 20 years.

If the payments are made annually, then the calculation will look like this:

Annual payment to Bank at 5% comp. annually would be:

$80,242.59 x 20 years=$1,604,851.80-$1,000,000=604,851.80 Total interest paid to the Bank.