The Economic Consequences of Homelessness in The US

if (guessed_pmt > actual_payment)
{
max_rate = mid_rate; # current rate is new maximum
}
else
{
min_rate = mid_rate; # current rate is new minimum
}
}
print " The Rate is ", mid_rate;
On any modern computer this runs pretty much instantaneously.
Canadian Formula
Canadian mortgages are compounded semi-annually instead of monthly like
US mortgages.
Monthly Pmt =
(P*(((1+i/200)^(1/6)-1))/(1-(((1+i/200)^(1/6)))^-(n*12)))
Where:
P = principal outstanding
i = annual interest rate percentage
n = number of years
Here is a easier to read representation:
i 1/6
( 1 + --- ) - 1
200
Pmt = Principal x ------------------------
i 1/6 -12 x n
1 - [ (1 + --- ) ]
200
Or to convert canadian interest rates to US interest rates:
Can. Rate 1/6
US Rate = 1200 x [ ( 1 + --------- ) - 1 ]
200
or as a formula, US Rate = 1200 * ((1 + Can.Rate/200)^(1/6) - 1)
You'll note if you plug this into the US formula you get the above formula for payment.
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