# Do we have any math geniuses or accountants here?

1. ## Do we have any math geniuses or accountants here?

That would like to figure out this formula for me?
We are refinancing our mortgage and every calculator I've found including the new lender says our break costs should be a certain amount but our current lender is charging almost double. When I questioned how they got the amount they sent me this which might as well be written in Greek. I think it's intentionally confusing.

So would anyone like a crack?
I'll upload the formula and these are what I think are the amounts to plug in.

A = 393,104.05
i = 4.84
j = 4.14
m = 12
n = 336
d = 30

2. I'll have a go. I'm not making any guarantees though

3. Originally Posted by DJ Nette
I'll have a go. I'm not making any guarantees though
Good on you for trying. I wouldn't even bother 😂

4. Eh looks like something from a year 12 calculus exam. Maybe I could have done this 15 years ago - I wouldn't have a clue now. Good luck

5. ## The Following User Says Thank You to babyno1onboard For This Useful Post:

TheGooch  (14-09-2016)

6. Drum roll ..... \$2827.20

This is not necessarily my final answer.

I have also realized why I get the graduate engineers to do all the calcs and I just manage stuff.

7. ## The Following User Says Thank You to DJ Nette For This Useful Post:

TheGooch  (14-09-2016)

8. Originally Posted by DJ Nette
Drum roll ..... \$2827.20

This is not necessarily my final answer.

I have also realized why I get the graduate engineers to do all the calcs and I just manage stuff.
OK so if you are correct, that's pretty much what I get from every other calculator. I think it was \$2750. They are telling me it's going to be \$5300. That's when I asked how they come to that amount and asked for the formula.
Wonder how I could find out for sure.

9. ## Do we have any math geniuses or accountants here?

I got 2827.20 as well

ETA I'm definitely NOT a maths genius and I can tell you, accounting does not help with a formula like this lol

Just need to be excel savvy I think

OK so if you are correct, that's pretty much what I get from every other calculator. I think it was \$2750. They are telling me it's going to be \$5300. That's when I asked how they come to that amount and asked for the formula.
Wonder how I could find out for sure.
I would send them an email/letter (ie in writing) stating that based on their formula, the breakout fee should only be \$2827.20 and how do they explain the remaining \$2473? Maybe they are using different interest rates to you? Are all your figures correct in terms of number of months left etc?

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I have no idea as maths is not my strong point but if they are going to use that formula and get a total different figure than everywhere else then they need to go back to 'school' and send you all their workings with the explanation.

Hope you get an answer. It sounds frustrating!

12. It is frustrating. I'll admit my figures could be wrong as well but they have said they will send me the worksheet of how they've figured it out so once I get it I'll post it here. Thanks for your help.

13. ## The Following User Says Thank You to CanadianKangaroo For This Useful Post:

witherwings  (14-09-2016)

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